Apple originally targeted a $1,999 starting price for the iPhone Ultra, according to Bloomberg. The premium device was always expected to be costly, with analysts projecting $2,099 at launch and upper-spec models reaching $3,000. The $1,999 figure was meant to stay just below the psychological $2,000 barrier, mirroring Apple's approach with the iPhone X at $999.

However, the memory and flash chip crisis has upended those plans. Rising component costs forced Apple to increase prices on Macs and iPads in June, though it initially held off on iPhone price hikes. Sources from Mark Gurman indicate Apple has internally discussed raising the iPhone Ultra entry price to as much as $2,199.

At higher storage tiers, the device could approach $3,000. The iPhone 17 Pro Max already ranges from $1,199 to $1,999, giving Apple confidence that a more premium option could succeed despite sticker shock concerns.