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iPhone 8 is the hottest topic in tech right now. Millions of Apple fans are on tenterhooks as their favorite company readies to launch iPhone 8. Enough has been said already about iPhone 8 release date and specs. Here, we will talk in detail about iPhone 8 price. We will mention iPhone 8 price in the US, Europe and Asia, based on the most credible reports that have been published so far.

But first, take a look at the leaked iPhone 8 dummy.

iPhone 8 Price Expected to Be Over $1000: What’s the Reason

Apple is giving out loads of new features in iPhone 8, including OLED display, wireless charging, excellent camera and much more. iPhone 8 will also feature A11 chip. The new device will also have wireless charging and new camera features. That’s why most of the analysts think that Apple iPhone 8 price will cross $1000. These analysts are from renowned investment firms like Goldman Sachs and UBS.  UBS analyst Steven Milunovich thinks that iPhone 8 will have a 256GB memory and a costly display, which means that the production cost Apple had to pay was much higher than the previous versions.

Price of iPhone 8 128GB Version

But Steven says that low-storage versions of iPhone 8 will cost somewhere around $900. So you can expect iPhone 8 16GB version to have a price tag of about $900. Still, this price tag beats all the prices in the market.

Apple’s Production Costs Per iPhone 8 Unit

Similarly, earlier this month, investment firm Goldman Sachs said in a report that the starting version of iPhone 8(probably 128 GB) will have a price of $999, whereas the 256GB iPhone 8 will cost a whopping $1099. Goldman Sachs estimates that integrating OLED costs Apple about $35 per phone. And adding “3D sensing” technology in the phone adds another $20.

KGI Securities analyst Ming-Chi Kuo also shares the opinion that iPhone 8 price in the US, India, and Europe will be more than $1000. But Kuo cites the launch of OLED as a reason for this outlandish price. Apple had to go out of its way to muster up the best OLED makers in the industry. Reports suggest that only Samsung has the caliber to produce OLED displays which are required by Apple. But Apple would never ask Samsung to produce OLEDs for it for obvious reasons.

Forged Stainless Steel in iPhone 8, Still No Effect in Price

iPhone 8 is made of forged stainless steel. Apple’s current iPhones have aluminum in iPhone. Forged stainless steel is cheaper than aluminum.  There will not be a Home button in iPhone 8. Instead, Apple has planned to give a touch-based home button. Similarly, various reports have suggested that Apple is also planning to use metal inlays to make touch-based side-hardware buttons for volume and power. These changes are pleasant, but will take a toll on customers’ wallets.

Increased Cost of Memory Chips?

Another report suggest that Apple had to pay extra money for memory chips because of foreign currency headwinds. The dollar is getting stronger. As Apple has its manufacturing stationed outside the US, the company is suffering. Goldman Sachs says that Apple had to pay an about $16 for extra memory in ever phone in iPhone 8 production.

Apple will have a tough time justifying its price of iPhone 8 in the long run, as competition in the smartphone industry is skyrocketing. A latest report by Consumer Reports suggests that Samsung S8 clearly beat iPhone 7 in terms of popularity and usefulness.

3D touch features

Apple iPhone 8 will have 3D touch features which is also one of the basic features of the price hike. According to an estimate, 3D Touch components used in iPhone 8 are 150 times more expensive than for example the ones used in iPhone 7 and iPhone 7 Plus.

iPhone 8 Sales Will Drop Due to the Price?

I personally think Apple fans will still buy iPhone 8 because there is no anti-thesis the fanboy mentality. In fact, just in case you forgot, the 256GB version of the iPhone 7 Plus has a price of $969, and the phone is selling like hot cakes. However, Apple reported a massive drop in sales in the first quarter. This is despite the fact that almost every mature user has now become well-acquainted with the fact that Apple’s products sell at premium prices. There is not a single thing an iPhone can do which a decent Android smartphone cannot. But people still take pride in owning an iPhone.

iPhone 8 price in the US, India, UK and Europe will roughly be above $1000. As the smartphone market readies to peak, Apple will find itself in a serious problem amid declining sales and increasing costs.

What do you think about iPhone 8 and its price? Have your say in the comments below.

 

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