Goldman Sachs: iPhone 8 will cost $1,000

Unbox Therapy

Unbox Therapy’s Lew Hilsenteger holds up a custom gold iPhone 7.

Apple will launch three new phones in September and the best one, the all-new iPhone 8, will cost $1,000 (£776), according to Goldman Sachs. “We expect the iPhone 8 to have 128GB and 256GB models priced at $999 and 1,099 respectively,” analyst Simona Jankowski and her team told their clients in a note seen by Business Insider. That’s $130 (£100) more than the most expensive current iPhone.

The new phones launched at Apple’s traditional event later this year will have these starting prices, Goldman predicts:

• iPhone 8 — $999 (£775)
• iPhone 7s Plus — $769 (£596)
• iPhone 7s — $649 (£503)

This chart shows the $1,000 level is simply a continuation of an already existing trend:

Goldman Sachs

Sources in the media, inside Apple, and from within Apple’s supply chain, have thus far given out contradictory information on whether Apple will actually launch an “iPhone 8” this year. But Jankowski believes the iPhone 8 is definitely happening: “Apple usually explores multiple designs in parallel. However, with only 4 months left until
launch, we believe Apple has now locked down the design.”

There are a couple of factors driving that intimidating price point. First, the new technology inside the phone is driving up the “bill of materials” cost of manufacturing. Goldman expects these features and costs:

• 5.8″OLED screen (adds $35)
• No bezel, all screen
• 3D sensing (adds $20)
• Better, faster NAND/DRAM memory (adds $16 to $29)
• Capacity starting at 128GB
• A11 processor
• No home button
• Biometric authentication

The second issue is that consumers have favoured the bigger, more expensive iPhone models over their smaller alternatives. 

With iPhone 7 Plus, the large-screen/premium-priced versions of the iPhone have for the first time become a majority of Apple’s iPhone sales, Goldman estimates:

Goldman Sachs

Obviously, everyone is excited at the idea of a brand new, redesigned iPhone. But it’s not yet clear that Apple will launch one. Analysts at KGI and Deutsche Bank have both published notes saying that iPhone 8 may not be ready to launch this year. That sets up the possibility that CEO Tim Cook might “unveil” iPhone 8 at the September event, but then only release it for sale sometime in 2018. That’s what happened with Apple Watch, which was announced in September 2014 but only went on sale in April 2015.

More from Jim Edwards:

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