It now seems almost certain that the iPhone 8 will cost around $1000 when released later this year. While many may balk at such a high price, it’s not going to stop the majority of Apple fans from purchasing the handset.
A new survey conducted by Morgan Stanley data analyst firm AlphaWise showed 92 percent of iPhone owners that were “somewhat or extremely likely” to upgrade in the next 12 months plan to stay with Apple.
As reported by StreetInsider, AlphaWise found the Cupertino company remains on top when it comes to consumer brand loyalty in the smartphone market. Its 92 percent rating is ahead of big rival Samsung, which manages just 77 percent. LG (59 percent), Motorola (56 percent), and Nokia (42 percent) make up the rest of the list.
The results have given Apple a boost, with Morgan Stanley analysts increasing the company’s stock price target from $161 to $177.
Apple will especially welcome the news. Many complain that the iPhone 7 doesn’t offer enough of an upgrade over the previous model, and overall handset sales have fallen recently. CEO Tim Cook blames the ongoing iPhone 8 rumors for the company’s failure to meet Wall Street expectations, which fell short by around 2 million iPhone units.
“We’re seeing what we believe to be a pause in purchase of iPhone, which we believe is due to the earlier and much more frequent reports about future iPhones,” Cook said during a second-quarter earnings call.
Like Samsung’s Galaxy S8, the iPhone 8 is expected to boast an edge-to-edge display and lack a physical home button. It’s also rumored to come with a “glass-sandwich” design, support wireless charging, have a 5.8-inch curved OLED display, and offer many other new features.