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New Apple iPhone Could Cost $1,200
Updated July 12, 2017 7:04 AM
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(UNDATED) - The most breathtaking feature of the next generation Apple iPhone might be the price.

According to Apple watcher and developer John Gruber the iPhone 8 cost $1,200 or even as much as $1,249.

A 256GB model would start at $1,299 or as much as $1,399.

They attribute the high price to supply-chain constraint and high demand.

"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," Gruber says. "And if that's true, that means it should be more expensive. Not should in 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.

Developers say the front of the new device will be all touch screen, matching a popular feature on competing smartphones.

The new iPhone is expected to be available this fall, ten years after the first iPhone launched the smartphone movement.

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