Apple may launch an even more premium iPhone than its current Pro and Pro Max models.

Bloomberg's Mark Gurman said the new iPhone, referred to as the Ultra, could launch as soon as 2024 with the iPhone 16 lineup. He suggested it could bring camera improvements, a faster chip, and a larger display. It might also have a design that is built around wireless charging rather than a charging port.

Keep in mind Gurman claimed last autumn that "Ultra" could replace the Pro Max branding for this year's iPhone 15. However, his latest information indicates Apple is currently planning a more powerful, more expensive iPhone model than the current iPhone 14 Pro Max, which starts at £1,199 in the UK.

To justify the large price increase over the standard iPhone 14 model, Apple gave the iPhone 14 Pro and iPhone 14 Pro Max models exclusive features such as the Dynamic Island. Gurman believes Apple wants to make the different tiers even more distinct with the iPhone 15, which could feature USB-C and haptic volume and power buttons instead of physical ones. The 15 Pro Max might also get a periscope lens with better optical zoom.

During Apple's recent earnings call, CEO Tim Cook hinted that customers might be willing to pay more for a better product, stating that the iPhone has become such an integral part of people's lives they are "willing to really stretch to get the best they can afford in that category".

In other words, Apple's consideration of a new "Ultra" iPhone could signal a new era of even pricier premium devices from the tech giant. The company is betting that consumers will be willing to pay more for the best features and a better overall experience.

Only time will tell if this bet pays off.