Well, it’s been nearly ten years since Apple first released the iPhone on the market and now the new anniversary 8th generation device is due for unveiling in 2017. During its first decade on the market, Apple’s iPhone indeed caused a revolution, for which people were willing to pay top money, especially for the company’s premium phone versions.
So, will the anniversary model iPhone break the piggy bank?
In short – there is so much speculation and anticipation out there at the moment that the new phone’s price is anyone’s guess. In the past people had been more than willing to fork out the big cash for an iPhone simply because it was viewed as somewhat of a status symbol, with the device’s actual performance and characteristics taking a back seat when it came to paying that price. Apple’s phone range offers a choice of a number of devices, their price based on memory capacity and some other characteristics. Some of the past iPhone generations featured fewer devices to choose from thus limiting the price range buyers could manoeuvre in.
In the UK, the current 7th generation iPhone was originally retailing at around £600, so it is only expected for the new device to cost at least that when released. Chances are though, that Apple fans will be willing to pay anywhere up to a thousand pounds to get their hands on the new device. Rumours and leaks trickling down the grape vine (although highly speculative) predict the iPhone 8 to be an ultra-premium device whose technology and features will easily make it the most expensive iPhone yet. Some of the more gutsy predictions (by those in-the-know) circulating around expect the new phone to even hit the $1000 US mark.
Will the price be right?
Will people be willing to pay top money for the new Apple phone remains to be seen. Some consumers would fork out the cash only if the device lives up to their expectations technologically, others however will base their willingness to pay on how the new phone stacks against the rest of the market. Some analysts say that Apple’s heyday is about to conclude and that the new iPhone will either be a landslide success or a flop – the prestige factor of owning an iPhone however isn’t what it used to be. Consumers have become accustomed to the brand and its products, so the the subjective value of these devices has decreased with time.
If some of the rumours are true and Apple really goes all out technologically with their iPhone 8, then perhaps the projected high price of the device would be worth it for larger percentage of users. Diehard fans would obviously base their willingness to pay on brand loyalty rather than how much bang they actually get for their buck. In this day and age where new manufacturers are coming in strong with better devices at better prices, it might be a challenge for the new iPhone to hit the spot once again.