Planning to buy the new iPhone 8? It might cost you around $1,000 — or even more

The new iPhone 8 is expected to come with some amazing features: a bigger screen, wireless charging capabilities and facial recognition to unlock the device, according to The New York Times.

But it won’t come cheap — you’ll have to shell out about $1,000, if not more, to take one home, according to multiple sources that spoke with the Times.

For comparison, the newest Apple iPhone, the iPhone 7 Plus, currently costs around $769 and tops out at $969, according to NY Mag.

The iPhone 7 and 7 plus came with three storage options of 32GB, 128GB and 256GB, according to Business Insider; AppleInsider reported that the iPhone 8 will come with 64GB, 256GB and 512GB options.

Because Apple tends to charge an additional $100 for each size upgrade, the 512GB option could cost upwards of $1,200, according to Business Insider.

The iPhone 8 is expected to come with a significantly higher screen resolution, a glass back and no home button.

But its high price might spell trouble for Apple, according to Fortune.

A study released by the ad company Fluent found that just 13 percent of American consumers said they would buy the new iPhone if it costs more than $1,000. Two-thirds of respondents said a smartphone that costs at least $1,000 is “too expensive.”

Don’t expect a mass exodus of iPhone users to another smartphone, however — 70 percent of those surveyed said they plan to buy an iPhone in the future, even if there are other devices on the market that come with a substantially cheaper price tag.

This story was originally published August 25, 2017 at 11:00 AM with the headline "Planning to buy the new iPhone 8? It might cost you around $1,000 — or even more."