We know Apple will celebrate the tenth anniversary of its iconic iPhone with the launch of a new device later this year. The stakes are high, and if the latest rumors are anything to go by, so might be the price for entry.

There are major changes coming to this year’s model, like a built-in fingerprint sensor within the display, an OLED panel and more.

The tech giant is currently facing some major supply constraints according to some reports. There is a possibility that Apple may not meet the high demand.

iPhone 8 Pricing $1200

Apple watcher and developer John Gruber says the iPhone 8 will start from a whopping $1200. Gruber is well-known for hosting Apple executives on his podcasts and has correctly predicted Apple moves in the past. He says:

It sounds to me like the OLED iPhone is a phone which Apple can’t make 40 million of per quarter, at least not today. And if that’s true, that means it should be more expensive. Not shouldin any moral sense, but simply because that’s how the principle of supply and demand works. When supply is constrained and demand is high, prices go higher. The higher prices alleviate demand.

As per Gruber, the basic 64GB variant with be priced at $1199 and the higher 256GB model is being priced at $1399.

That being said, the Cupertino giant is expected to also announce the iPhone 7s and iPhone 7s Plus which will be available at a sub $1000 price point.

Apart from Gruber, even other prominent names from the industry like Goldman Sachs predicts the iPhone 8 price to be above $1000.

Apple has declined to comment at the moment, as usual, pertaining to rumors. But given the track record of how expensive the company’s products are, paying $1200 is not a far stretch.

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Bhushan is a technology enthusiast and loves to work with cool new gadgets and devices. In his free time, he loves to read thriller fiction novels and sometimes explores his culinary skills.