This year is the opportune time for Apple to launch the next-generation iPhone as the company will be celebrating the 10^th anniversary of its iconic smartphone series. The Cupertino-based tech company is expected to introduce a revolutionary design and upgrades for its upcoming handset. With that in mind, reports suggest the iPhone 8 could come with a pretty hefty price tag.

According to the Kansas City Star, significant changes for the new iPhone 8 include a pricey tag. The cost of the new handset is likely to cost at around $1,000, but the actual price could go beyond the expected amount. The upgraded specs of the iPhone explain the skyrocketing price. One of the features that will reportedly be introduced in the upcoming smartphone is the fingerprint sensor, which will be placed on the device's front display.

The Kansas City Star also suggests that the investment banking company Goldman Sachs is encouraging more investors to buy shares from Apple, despite the expensive tag on the upcoming iPhone 8. Goldman Sachs believes the high price of the iPhone 8 will generate more profit. 

If the iPhone will have a $1,000 price tag, Forbes points out that the upcoming installment is going to be the most expensive handset the Cupertino-based tech company has ever built. Despite the costly tag, it is expected the new set of phones will be worth it as each handset will feature huge changes and far better upgrades compared to its previous models.

Rumor has it the iPhone 8 will come with an OLED display, biometric authentication, A11 chipset, a no-bezel design, and a no-home-button feature. The competition among rival tech companies has already begun. Samsung's Galaxy S8 is already making buzz in the market, while Google's Pixel 2 will soon take its share in the market, Apple is expected to tilt the balance with its revolutionary iPhone 8.

More updates should arrive soon.