iPhone 8: If this rumour is true, prepare to BREAK THE BANK for Apple’s next smartphone

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The iPhone 8 could set you back more than any other Apple smartphone

The iPhone 8 could be set to be the most expensive Apple smartphone ever, new reports have claimed.

Apple’s next device, released on the 10th anniversary of its original iPhone launch, could come with a range of hardware and software improvements along with a striking new design.

But these innovations could mean that the device comes with a huge price tag to match, as Apple marks its anniversary with something truly striking.

Apple iPhone 8 – Leaked photos, concept images, and renders Sun, January 1, 2017

iPhone 8 is shaping up to be one of the most impressive Apple smartphones to date, with glass panels on the front and rear of the device, a curved borderless OLED display and no Home Button

Play slideshow VENIAMIN GESKIN • TWITTER • CONCEPT IMAGES 1 of 15

Apple iPhone 8 will debut a brand-new all-glass look, with a curved OLED display and no physical Home Button

A source has told Fast Company that the iPhone 8 could sport the eye-watering price tag of over $1,000 – making it far and away the most expensive Apple smartphone to date.

Currently, the most expensive version of the iPhone 7 Plus, featuring 256GB of storage, sells for $969 (and £919 in the UK), so the price tag isn’t too big a jump in real terms.

The 10th anniversary iPhone could be set to majorly reinvigorate interest and boost sales of the Apple iPhone, with the company taking advantage of this to increase the price of its flagship smartphone.

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The most expensive version of the iPhone 7 Plus currently costs £919 in the UK

The rise is mainly thought to be due to Apple including a super-detailed OLED display that stretches across the face of the device, which costs far more than the LCD display seen in Apple’s current devices.

The source added that Apple has cornered the market in snapping up as many OLED displays as possible, which are being used in one of its smartphones for the first time.

However these hi-tech displays are only made by a limited number of manufacturers, meaning Apple’s suppliers may struggle to keep up with the rush to get one.

Increasing the amount of RAM memory and storage, as well as a more advanced camera, would also necessitate a spending increase, all of which could push the iPhone 8’s cost higher than ever before.

However, going north of the $1,000 mark would represent a major turning point for Apple, meaning that the pressure would truly be on to make the iPhone 8 its most premium device to date.

Reports have already started swirling around concerning exactly what the next device will look like, and what new features will be included.

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The iPhone 8 could feature an all-new design with a curved screen

The iPhone 8 will most probably be released in the Autumn, keeping to Apple’s typical release cycle, meaning the company still has several months to go to finalise exactly what will be seen in the device.

It’s thought Apple could make some big changes when it unveils the next iPhone including adding wireless charging, an improved camera and much faster processor.

The Cupertino company is also expected to drop the physical Home Button from the front of the device.

With the Home Button gone, Apple can extended the display to the bottom of the phone – reducing the chunky bezels around the screen, and shrinking the overall footprint of the device.

Instead, Apple will also look to incorporate the Touch ID fingerprint sensor from the physical Home Button beneath the glass display.

Alongside the new fingerprint recognition technology, the iPhone 8 could also see Apple introduce facial tracking sensors into its flagship smartphone.

These could be used to scan users' faces to help verify identification.

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