A source familiar with Apple's plans claims that the special 10th anniversary edition of the iPhone could have a price tag of higher than $1,000, as reported by Fast Company.

The report comes amid the many rumors that have already started swirling regarding the upcoming iPhone, including a supposed earlier-than-usual launch date and the so-called iPhone X.

Apple To Launch A $1,000 iPhone?

A $1,000 iPhone could not be considered too surprising, given the fact that the 256 GB model of the iPhone 7 Plus already carries a price tag of $969.

With the next iPhone said to be coming with many new features, including a new OLED display that will cover the entire face of the device according to Fast Company's source, the price will likely breach the four-figure mark. OLED displays are about twice as expensive as the LCDs used in the current-generation iPhones, and as the new iPhone will likely also receive an upgrade in memory, that will be an added cost.

According to several sources, Apple has been grabbing much of the available manufacturing capacity among suppliers for OLED displays. Only rival Samsung and a couple of smaller Asian upstarts produce OLED displays, and apparently, only those made by Samsung meet the quality requirements of Apple.

With Apple said to be creating a new groundbreaking device for the next iPhone, it is understandable that the added components and features will push the device's price further up.

iPhone X Rumored Details

Fast Company also reveals tidbits about the rumored iPhone X, which was previously reported to be named as such so that Apple will be able to stay ahead of rival Samsung in the smartphone industry.

If Apple continues with its naming convention, by the time Samsung releases the Galaxy S9 and Note 9, these devices will go up against the iPhone 8. The lower number might make customers think that the iPhone 8 is an inferior device to the Galaxy S9 and Note 9, following the same reasoning on why Samsung skipped the Galaxy Note 6 name and named the Galaxy Note 5 successor the Galaxy Note 7.

Additionally, the iPhone X name may also be referencing the fact that Apple will be celebrating the iPhone's 10th anniversary this year, and the X could refer to the Roman numeral for 10.

According to Fast Company, the iPhone X will have a screen that measures 5.8 inches and will launch alongside a 4.7-inch model that is likely to be named the iPhone 7s and a 5.5-inch model that is likely to be named the iPhone 7s Plus. The iPhone X will be the only model with an OLED display and will look like "a smooth black monolith" with only a few visual interruptions on its design.

Fast Company's source added that Apple has been looking to remove the iPhone's physical Home button, instead placing the button under the surface of the screen to become a button that will be touched, not pressed. There is also the chance that the physical buttons at the side of the iPhone X will be replaced by touch-sensitive inlays.

Another interesting rumor in the Fast Company report is the partnership between Apple and Lumentum, with the latter's 3D-sensing technology said to be incorporated into the next iPhone in some manner, though it is unclear how.

Earlier Launch For Next iPhone Debunked

There were reports that the launch of the next iPhone will be sooner than expected due to production said to have started earlier. Fast Company's source, however, debunks these reports, as there is no evidence among suppliers for such a claim. As such, the next iPhones should be expected to be announced in the fall, with sales to start shortly afterward.

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