By: Renee Grant

If you’re obsessed with your iPhone, you may have to amass a small fortune to upgrade to the newest version. Reports are swirling that the newest version of the popular smartphone, the iPhone 8, could cost upwards of $1,000.

Tomorrow, Apple Inc. will introduce the new model with Samsung announcing the latest version of its beleaguered Galaxy gadget line with the Galaxy Note 8. The Galaxy Note 7 was discontinued last year after an embarrassing launch. The phone’s batteries were known to overheat to the point of explosions and causing fires.

The newest iPhone is rumored to be made of glass and stainless steel, with upgraded cameras and a locking system that uses a 3D scan of the owner’s face.

While some will undoubtedly forego early adoption of the updated technology due to the high price, there are some for whom having the latest gadget is much more important than the hefty price tag.

Do you plan to purchase the new iPhone when it drops later this year?


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