According Mark Gurman, of Bloomberg, has suggested that Apple will rebrand its most advanced smartphone from “Pro Max” to “Ultra,” similar to the nomenclature of the Apple Watch and Mac chips.

Gurman now claims in the most recent Power On newsletter that Apple could launch an even more expensive iPhone above both Pro models. This means that they could be a Pro model, a Pro Max model and an Ultra model. The iPhone 16Ultra might be the name of this if it debuts with the new iPhone in 2024.

The CEO of Apple, Tim Cook, indicated to investors that consumers are eager to pay a premium for the best possible iPhone. This implies that even more upscale models may be on the horizon.

Cook’s response was in response to a query regarding the feasibility of the iPhone’s growing average sales price. After all, what cost $1,150 in 2017 (the iPhone X with 256 GB storage) now sells for $1,600 (the iPhone 14 Pro Max with 1 terabyte).

Regarding the iPhone price increase, Cook said “I think people are willing to really stretch to get the best they can afford in that category,”

The Apple CEO was adamant that even more upmarket iPhones would make sense, especially if they had new features. However, he would not say whether he expects future price spikes.

Apple has discussed internally about increasing the best model of its iPhone series. It has also taken steps to make the Pro versions stand out from other iPhones, prompting customers to spend more money.

When the iPhone 15 is launched later this year, Apple will utilize a range of materials, CPUs, and cameras to further differentiate between product tiers. This will involve including a periscope lens on the Pro Max version for improved optical zoom capabilities.