Apple's 'iPhone X' To Cost $1,000?

Apple Inc. AAPL's iPhone turns 10 years old in 2017, and fans and investors are expecting a new version of the device that lives up to the relevance of the anniversary.

According to Fast Company sources, the iPhone 8 (or iPhone X, as some believe it will be dubbed) will include a new 5.8-inch OLED display and a better memory. However, these upgrades come with a hefty price tag.

Apple’s new smartphone could retail for more than $1,000. While the figure might sound surprising, fans are probably expecting such a figure, especially taking into account that the iPhone 7 Plus already goes for $969 – while using cheaper components.

Fast Company’s Mark Sullivan pointed out that Apple has been reportedly “tying up much of the available OLED display manufacturing capacity in the marketplace at the expense of smaller phone makers.” These reports are in line with the rumors about the iPhone 8 including an OLED display.

On the flip side, rumor has it Apple will save some money by changing the material used for the sides of the iPhone, from aluminum to stainless steel. The back is also expected to change, featuring a glass layer, instead of metal.

Finally, it has been said the tech behemoth is considering removing the physical home button, and replacing it with an Android-style touch button located underneath the phone’s display area. Similar things have been said about the lateral buttons on the iPhone.

As far as suppliers go, it's rumored that Intel Corporation INTC and QUALCOMM, Inc. QCOM will provide modem chips.