A higher-end iPhone Ultra model could arrive in 2024

The Apple iPhone 14 Pro and iPhone 14 Pro Max.

Apple might release an Ultra version of the iPhone in 2024.

According to Bloomberg, Apple has been discussing about adding a higher-end model to the top of its 2024 iPhone lineup. It is speculated the top-end model will adopt the "Ultra" moniker, similar to how the branding is being used in the Apple Watch lineup and M1 chip range.

Bloomberg expects the iPhone Ultra to come with more camera upgrades, a faster processor, and a bigger display. Future-forward features such as true wireless charging could debut on the iPhone Ultra.

During the recent earnings call, Apple CEO Tim Cook was responding to a question on how the company is going to sustain the iPhone's rising average sale price. Cook believes the price increase is not an issue, and consumers can be persuaded to spend more and they "are willing to really stretch to get the best they can afford in that category". This could potentially set the stage for Apple to launch higher-end iPhone models to capitalise on the consumer purchase behaviour.

Source: Bloomberg