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Would You Spend $1,000 on a Smartphone?

Apple is ready to launch its highly anticipated iPhone 8.

The phone reportedly will have all types of new features and a new design. It will take the device to a new level in look and performance.

The price could also take an iPhone user to a new level. Apple's 10th anniversary phone could cost you a grand or more.

Some reports indicate the phone will cost $999 with 64GB rising to $1,099 with 256 GB and topping out at $1,199 for a high powered 512 GB device.

Even at its lowest level the phone represents a whopping 40% to 50% increase over the $649 for a base model iPhone 7.

Paying a premium though for an iPhone is not new for many Apple fans. For example, those who purchased an iPhone 7 plus with all the bells and whistles may have already crossed the four figure threshold.

Apple is not alone in the new pricing stratosphere. The Samsung Galaxy Note 8 is also scheduled for release in the next few weeks. Online chatter hints the Note 8 will also approach or exceed four figures.

Why …

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