Apple’s newest iPhone will be unveiled to the public on Tuesday. It’s expected to have futuristic features such as facial recognition and wireless charging. There’s a slight catch to all of this luxury though. The phone will have a $1,000 dollar price tag attached.
The phone’s price is almost the equivalent of some of Apple’s most basic laptops. It’s also an extreme hike from the iPhone 7, which was priced just under $800. Even though the phone will have a hefty price, Apple still expects to have a solid quarter of sales.
In markets such as the United States, Apple makes up a large portion of cell phones for users. Typically a high price will not have much of an effect, as users will always have to upgrade their phones at some point. According to The New York Times, Apple only makes a small dent in markets such as South America (only accounting for eight percent of cell phones in Brazil). $1,000 dollars for a phone seems like a steep option for these developing markets.
While we only have rumors of what the newest iPhone could consist of, a price hike could imply some state-of-the-art technology. Apple’s newest product has brought much anticipation to technology gurus, so a high expectation has been set. After the iPhone 7’s mishap with removing the “headphone jack”, Apple fans are hoping for a major overload of new features. That’s something we will all see, coming this Tuesday.