iPhone 8 will be Apple's anniversary edition product. The expectations are riding high since there has been no major change in the devices of the previous three iterations and this year is special for the product. So far, leaks have suggested that the Cupertino Giant is preparing something big for all Apple loyalists. However, will this big change ask for a bigger price?
Also Read: Why iPhone 7 is 40% more expensive in India than US
Analysts believe that this year's iPhone 8 is most likely to cross the $1000 mark which might also be a bad news for Indian buyers. Barclays' Mark Moskowitz even goes ahead to make a further analysis that only 18 per cent of the potential iPhone buyers will actually buy the device, owing to the unconventionally high price tag.
According to a report by 9to5Mac, the analyst made the remark in a note predicting that Samsung is in a better position to take the premium segment by storm despite the relatively high price and previous years Note 7 debacle.
"While the device itself seems more evolutionary than revolutionary, we believe this launch represents the return of staunch competition into the premium segment ($700+ ASP) of the smartphone market following Samsung's Note 7 debacle last year. For Apple, we are concerned that the company needs to meet momentous investor expectations following the expected launch of three new iPhone devices in September. This could be made more challenging when considering that only 18% of potential iPhone buyers are willing to spend $1,000+ for a new device (Wireless Subscriber Survey; 08/09/17), which is below the 30-35% figure investors seem to be expecting."
Galaxy Note 8 is in itself a very expensive device and is almost up there playing with the $1000-mark priced at $930 ($960, depending on the carrier). This years' Galaxy S8 is priced north of $800 and even the ill-fated Note 7 was priced similarly. Last year's iPhone 7 Plus 256GB device was only a few dollars shy of reaching the ($1000) mark.
What does all this mean for Indian market?
The Indian market is not as interested in the premium smartphone market yet. But the premium segment is gradually gaining traction and is even one of Apple's fastest growing markets across the globe.
However, the steep rise in global prices of the new iPhones will reflect on the prices here in India. Apple's iPhones sell at their highest prices in India, costing almost 40 per cent higher than what they sell in their native market.