Apple may have a cunning plan to make you spend £760 on an iPhone
How much would you spend? (Picture: Gordon Kelly)

You may think you couldn’t be persuaded to spend more than £700 on a phone – but Apple has its ways.

There are claims that the new iPhone 8 (or, as it will potentially be known, iPhone Edition) will set you back upwards of £760 (or a cool $1,000 in the US).

That is a lot of money. It’s £95 more expensive than the iPhone 7 Plus, and hundreds more than equally good, or even better, Android phones.

But Mark Moskowitz, an analyst for Barclays, believes he’s found a way Apple will make people fork out for it.

Apple may have a cunning plan to make you spend £760 on an iPhone
£760 could be a bit steep for a lot of people (Picture: AP) 

His team reckons the tech giant will give away free Apple Music subscriptions, and 200GB of free iCloud storage to anyone who buys the pricey phone.

The bundle – worth $156, or £118 – would make the cost seem a bit lower.

‘Considering consumers’ sensitivity to the price gap, we explore how Apple could offer purchasers of iPhone 8 a free subscription bundle of one year of Apple Music and one year of 200GB iCloud storage,’ Moskowitz wrote in a note to clients.

He went on to say that offering the subscriptions with the sale of the phone could boost revenue, and eventually increase Apple’s earnings per share.

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‘Such a move could make a $1,000+ iPhone 8 seem more within reach, with the $156 in services serving as a quasi-discount or rebate.’

Apple could then make more money from people renewing their subscriptions after the one-year free trial period is up.

But if that still seems too steep – or you really aren’t fussed about Apple Music – you may have other options.

Industry analysts also expect Apple to release two lower-priced iPhone models later this year.