If a recent report is to be believed, Apple fans may have a reason to be thankful for the Galaxy S8+. It seems the upcoming iPhone 8 could be cheaper than expected - an attempt to put it in a similar price bracket as Samsung's handset.

It's been widely reported that Apple's next flagship iPhone will cost upwards of $1000, but in a report from global financial services firm UBS (obtained by MacRumors), analyst Steven Milunovich believes the 64GB base model could start at $850 to $900.

Milunovich says the fact the iPhone 8 will have a smaller display than Samsung's new device has forced Apple to rethink its pricing strategy, pushing the cheapest version of the iPhone 8 closer to the S8+'s $840-$850 price.

There may still be a $1000+ iPhone 8, but this will be the top-tier, 256GB model. Additionally, Milunovich says Apple's other two upcoming handsets, likely named the iPhone 7s and iPhone 7s Plus, will start at around $649 and $749, respectively.

Contrary to some perceptions, Apple prices quite competitively. Apple likes to position its entry-level products at the mid-market with "Pro/Plus" products close to competitors at the high end. Therefore, we do not think Apple will stray far from the price point of Samsung's most expensive model at $840-850 and will keep the entry OLED model at $850-900. Apple's 256GB OLED model could be $950-1,000, but the 256GB 7 Plus already is $970.

In other iPhone 8 news, it's rumored that the smartphone may not be ready in time for the expected September launch date. A report from the Chinese-language Economic Daily News (via Digitimes) says problems with the switch from LCD to OLED screens is causing the delay, which could see the phones pushed back to October or even November.

"Technical issues related to the lamination process of curved OLED panels, and the adoption of a 3D sensing system may cause the delay of the new iPhone devices," states the paper.