Apple is coming out with a new iPhone later this year, and the hottest rumor isn't so much about tech specs as price. For its 10th-anniversary phone, Apple is said to be considering a price tag north of $1,000, and perhaps as high as $1,400, for the top model iPhone 8. As Fortune notes, the idea seemed far-fetched when it surfaced earlier this year in a Fast Company article, but it has since gained credibility. Here's a look at why that is, with competing views on whether it would be a wise strategy:
- Absolutely: Tech writer Christopher Mims makes a five-point case for such a price point in the Wall Street Journal. Among them: A high-end phone would boost the company's brand, make people "lust" for it, and function as a "halo device," as when a car company puts out an uber-expensive top model. People might not shell out the highest price, but they may be more likely to scoop up lesser models. Plus, it would help the "single most important metric on its balance sheet"—the average selling price of phones.