An Apple phone is seen at a shop after Apple launched iPhone 7 and 7 plus in Moscow, Russia on October 26, 2016. (Photo by Sefa Karacan/Anadolu Agency/Getty Images)
Anadolu Agency—Getty Images
By Lisa Eadicicco
Updated: August 31, 2017 12:21 PM ET | Originally published: August 25, 2017

Those planning to line up for Apple’s expected top-of-the-line smartphone might want to start saving. The premium version of the new iPhone, which Apple is set to unveil on September 12, may cost around $999, according to a new report from The New York Times.

That would make the new iPhone cost over $300 more than the $649 iPhone 7, and about $230 more expensive than the $769 iPhone 7 Plus. It’s unclear whether the $999 figure refers to the iPhone’s starting or maximum price (Apple typically offers iPhones with different storage options, with additional storage usually adding about $100 to the price). It’s not the first evidence indicating Apple’s high-end phone may cost nearly $1,000: Fast Company previously reported the same, saying that a special tenth anniversary edition model would have a price tag “very likely north of $1,000.” This $999 version may be a special model launched alongside two other new 4.7-inch and 5.5-inch iPhones, as Bloomberg reported.

Read more: Here’s Your First Look at Samsung’s Galaxy Note 8

This premium iPhone, said to be called the iPhone 8 or iPhone X, is expected to represent a major overhaul of the current iPhone’s design. Changes may include the addition of an OLED screen, the same display type found on phones made by Samsung and others, which offers better contrast than the liquid crystal display on Apple’s existing iPhones. Apple may also increase the size of the screen by reducing the bezels surrounding the display, according to the Times and previous reports from Bloomberg. Facial recognition and wireless charging — both features that have long been present on Android phones — may also be in store for Apple’s upcoming device.

Apple has not yet responded to TIME’s request for comment about the new iPhone.

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