‘iPhone 8’ Pricing to Start at $870 USD, Not $1000 Predicts UBS Analyst

Apple will launch its latest iPhone soon, and already speculations of its features and price have started doing the rounds. The new device could start at a price of $870 USD and might go up to $1070 USD, according to UBS analyst Steven Milunovich.

According to a report in Business Insider, Milunovich had earlier claimed that the iPhone 8 would start at a sub-1,000 price point, which would most likely act as an important psychological barrier for Apple, and the note sent to investor today gives a peek into details about the pricing.

Milunovich has stated that although the iPhone will cost over $1,000 USD, that would be the top-tier price rather than the starting price. For $1,070 USD, Milunovich predicts that users will be able to buy the 256GB model, though it is undecided on what storage the $870 would be.

He also stated that the sales of the iPhone 8 will be 45 percent of all iPhone sales next year. The average selling price of the iPhone would be around $730 USD per unit. Lastly, UBS increased its price target for Apple from $165 USD to $170 USD.

While such a cost range appears to be really high even for premium users, this is not the first report which has come up about the hike in pricing. Recently, Fortune had reported that the price of the limited edition iPhone 8 could be as high as $1000 USD.

About two weeks earlier, Goldman Sachs analyst Simona Jankowski and her team sent out a note to their clients suggesting a much higher price. As posted on Business Insider, Jankowski said, “We expect the iPhone 8 to have 128 GB and 256 GB models priced at $999 and $1,099, respectively.”

Currently, Apple’s iPhone 7 Plus starts at $1049 CAD for the entry 32GB storage and goes up to $1309 for the 256GB model on Apple.ca. Are Canadians ready to pay more for the latest and greatest ‘iPhone 8’?