Apple's iPhone 8 is 'the most expensive iPhone yet', may cost $999

Apple was the first smartphone manufacturer to cross the $900 price tag with last year's iPhone 7 plus.

iphone 8

With the iPhone's 10th anniversary just around the corner, Apple is all geared up to launch the iPhone 8. The device is expected to be unveiled at a special event on 12 September.

Apple was the first smartphone manufacturer to cross the $900 price tag with last year's iPhone 7 plus. The top-of-the line 256GB model of the 7 plus cost a whopping $929. It comes as no surprise that Apple's next will be priced upwards of $900.

The iPhone 8 which is expected to have an edge-to-edge OLED screen, facial recognition technology, wireless charging and augmented reality support, will carry a price tag of $999. Some industry insiders were expecting a $1,000+ price point for the iPhone 8.

If the rumours regarding pricing are to be believed, the iPhone 8's launch price is double the amount of what the original iPhone went on sale for. With inflation, the $499 retail cost of the earliest iPhone model would equate to just $590 in 2017.

The most-awaited smartphone of 2017 will be the most expensive iPhone the Cupertino based company has ever produced. The news comes just days after Samsung announced its flagship Galaxy Note 8, which is expected to cost around $929 unlocked.

Sources speaking on the condition of anonymity told The New York Times, Apple will be positioning the new device, possibly dubbed the iPhone X, as its top-end premium offering, similar to the way Samsung has positioned the Galaxy Note 8.

The iPhone 8 may also be the first smartphone to come with 512 GB of usable memory. The current line-up of the iPhone 7s and 7 Plus offers three storage options, 32, 128, and 256 GB. Recently it was also reported the iPhone 8 would feature 64, 256, and 512 GB options.

The iPhone 8 is also expected to mark the first massive change in design for Apple's smartphone since 2014's iPhone 6. It was with the iPhone 6 that Apple moved the base model from 4 inches to 4.7 inches. A "plus" moniker model with a 5.5-inch screen was also introduced.

Apple is also expected to launch updated versions of its most recent devices, the iPhone 7s and 7s Plus, alongside the iPhone 8. An updated iPhone SE may also be revealed.