Apple

Nobody wants to buy a $1,000 iPhone, Barclays survey

Is this glass half full or half empty? Is it even a glass? What is water? What if it was fire instead?

The progression of these questions may seem odd, but that’s just how you start thinking about Apple survey results if you write for CNBC.

Apple CEO Tim Cook speaks during a product launch event on October 27, 2016, in Cupertino, California.

Barclays has bad news for Apple if it decides to price the its upcoming high-end iPhone at more than $1,000. In an investor note, Barclays said that just 11 percent of its survey respondents would spend more than $1,000 on an iPhone. Most folks only want to spend $582, or $48.50 per month on a 12-month device installment plan.

The tables turn a hair in Apple’s favor among current iPhone owners — 18 percent of consumers who already own an iPhone are willing to spend more than $1,000, Barclays said.

This could spell bad news for Apple. Reports have suggested its new iPhone 8 will cost $1,200 or even as much as $1,400.

Here’s why investors might not need to worry, though: Apple’s most high-end iPhone 7 Plus, already on the market, costs more than $1,000 after taxes. Also, Apple is expected to offer two other devices, perhaps named the iPhone 7s and iPhone 7s Plus, alongside the iPhone 8. That would help it attract consumers who might not want to spend $1,000 or more on the most expensive iPhone.

Also, Barclays said that, on a global scale, “85 percent of respondents are willing to pay more for the newest generation smartphone device, which could help dispel the bear thesis that very few consumers will purchase a new smartphone without carrier or other subsidies.”

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