The tech giant Apple is reportedly exploring the possibility of releasing a new and more premium iPhone model, dubbed the iPhone Ultra. According to Mark Gurman of Bloomberg, this latest iteration of the iPhone series could arrive as soon as next year and will slot in above the current iPhone Pro and Pro Max.

Apple CEO Tim Cook, in a recent analyst call, hinted at the idea of a more expensive iPhone when he stated that “The iPhone has become so integral [to] people’s lives. I think people are willing to really stretch to get the best they can afford in that category.” This statement, combined with Gurman’s reporting, suggests that Apple is betting on consumers’ willingness to pay a premium for a top-of-the-line iPhone experience.

The iPhone Ultra is expected to come packed with some significant upgrades over the current Pro and Pro Max models, including a faster processor, improved camera hardware, and a larger display. Gurman also suggests that Apple may introduce future-forward features in the iPhone Ultra, such as finally ditching the charging port.

While the differentiation between the iPhone Ultra and the standard iPhone 15 line remains to be seen, previous reports suggest that the iPhone 15 Pro variants will come with upgraded Wi-Fi 6E connectivity, redesigned titanium frames with haptic volume and power buttons, and a periscope camera lens on the Pro Max.

Apple’s consideration of a more premium iPhone Ultra model is a testament to the brand’s unwavering commitment to delivering the best possible mobile experience to its customers. With the increasing average price of iPhones, it remains to be seen how consumers will react to this new offering, but the tech giant is betting that they will be willing to invest in the ultimate iPhone experience.