Here's why Apple's iPhone 8 could cost you more than $1,000

The expected price of the upcoming smartphone is the equivalent of a nine-year basic Netflix subscription

Here's why Apple's iPhone 8 could cost you more than $1,000

The expected price of the upcoming smartphone is the equivalent of a nine-year basic Netflix subscription

Apple will release a special 10th-anniversary version of its popular iPhone this fall, and the device may come with the hefty price tag of more than $1,000. Yep, $1,000 - roughly the same cost of one month's rent for a single-bedroom apartment in the cities of Austin, Portland, Sacramento and Virginia Beach. Apple's next smartphone will most likely be called the iPhone 8, but some reports say the Cupertino-based company will name it the iPhone X. The phone will have several new features, including 3-D touch sensors, according to a KGI Securities report from analyst and tech industry-dubbed Apple expert Ming-Chu Kuo on Thursday. It will also have a memory upgrade, a new OLED display and wireless charging. The device may also come in three different versions - one with OLED technology that reduces eye strain, and two upgraded versions of the iPhone 7 and iPhone 7 Plus. Kuo says the iPhone 8 will sport improved hardware features, such as stainless steel sides, an enlarged screen and a glass backing. The backing could be problematic for many users, since the iPhone's glass screens are known for cracking and shattering easily. Apple usually releases its new phones in September.

CUPERTINO, Calif. —

Apple will release a special 10th-anniversary version of its popular iPhone this fall, and the device may come with the hefty price tag of more than $1,000.

Yep, $1,000 - roughly the same cost of apartment in the cities of Austin, Portland, Sacramento and Virginia Beach.

Apple's next smartphone will most likely be called the iPhone 8, but some reports say the Cupertino-based company will name it the iPhone X.

The phone will have several new features, including 3-D touch sensors, according to a KGI Securities report from analyst and expert . It will also have a memory upgrade, a new OLED display and wireless charging. The device may also come in three different versions - one with OLED technology that reduces eye strain, and two upgraded versions of the iPhone 7 and iPhone 7 Plus.

Kuo says the iPhone 8 will sport improved hardware features, such as stainless steel sides, an enlarged screen and a glass backing. The backing could be problematic for many users, since the iPhone's glass screens are known for cracking and shattering easily.

Apple usually releases its new phones in September.

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