Tenth anniversary iPhone could cost more than $1,000

OLED screen, more memory, face-scanning technology, and a touch sensitive home button planned by Apple

The tenth anniversary Apple iPhone - which will either be called the iPhone 8 or iPhone X - could cost as much as $1,000, or around £950, according to reports.

The eye-watering price for Apple's next flagship iPhone would make it between $50 and $100 more expensive than the $969 that the company charges for its current flagship, the iPhone 7 Plus with 256GB storage.

Fast Company reports that this mooted price increase will be due to a shift to OLED screen technology, with this costing Apple twice the price that it currently pays suppliers for LCD displays.

The iPhone 8 will also have a RAM upgrade, which will also increase costs because of the upswing in price of memory combined with the relatively strong dollar, as well as a bigger battery.

Apple will be able to save some money on some components, though, as the new iPhone will reportedly come constructed from forged stainless steel, a less expensive material than the aluminium used in current iPhones.

The report also lends weight to the rumours that the iPhone 8 could be the first to launch without a physical home button, with sources claiming that the technology is "evolving" and that Apple will ditch it for a 'button' absorbed into the display that you touch, rather than press.

Apple might also ditch the physical buttons on the side of the handset, the sources note, in favour of touch-sensitive inlays in the metal chassis.

The report also claims that the iPhone 8/X, which is set to pack a 5.8in display, will sell alongside an iPhone 7S with a 4.7inscreen and an iPhone 7s Plus with a 5.5in screen.

Finally, the report notes that Apple likely will include 3D-sensing face scanning technology on the next iPhone, but casts doubt on claims this week that Apple will start production of the iPhone 8 ahead of schedule, saying that its source "has seen no evidence for that among suppliers".