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Apple’s next iPhone, likely named the iPhone 8, is expected to cost more than $1,000, according to Fast Company sources.

The technology and design magazine reports that the device, which will mark the 10th anniversary of the original iPhone, will come with a heftier price than usual because it will be packed with new features that are more expensive to manufacture. Chiefly, the new device’s new OLED display.

Fast Company‘s source claims the well-known rumor of a bezel-free OLED display, which will wrap around the entire front of the phone, is true. However, it will likely cost Apple roughly twice as much to produce as the LCD display currently used in the iPhone 7.

The price tag isn’t so surprising, especially when considering the fact that the 256GB version of the iPhone 7 Plus sells for $969, but it will no doubt cause controversy if the specs don’t back it up. Another possible factor in the increase is that the new phone is also likely to get a memory upgrade, which is relatively expensive now due to the strong dollar.

Head here to read the full report, then here’s everything we know so far about the iPhone 8.

  • Main & Featured Image: Concept by Handy Abovergleich

Daniel is the editor of Highsnobiety Life. He grew up in north of England and is now based in Berlin.

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