There’s been speculation Apple’s bezel-less iPhone would be expensive, and a new report claims to have inside information on just how expensive it’ll be.

According to The New York Times, the iPhone 8 will be “priced at around $999,” making it the most expensive iPhone to date—and one of the most expensive smartphones, period.

Currently, Apple’s most expensive iPhone, the iPhone 7 Plus, can be purchased for $969 with 256GB of internal storage. From that angle, Apple isn’t raising its prices that much. However, the most affordable iPhone 7 is only $649, a difference of $350 from Apple’s upcoming bezel-less iPhone.

The rise in cost is likely due to the revamped design allegedly coming to the iPhone 8, which is said to feature a 5.8-inch OLED display, wireless charging, and more. Although the device hasn’t officially been announced by Apple, references to the handset have appeared in official Apple software.

Learning the iPhone 8 will be $999 shouldn’t be a surprise to Apple fans. The company generally charges a premium for its devices, and the next iPhone will be no different. If anything, the supposed pricing lends credence to the device featuring the name “iPhone Edition,” a naming scheme Apple introduced with its Apple Watch to indicate a higher tier of pricing for the wearable.

For what it’s worth, Samsung’s Galaxy Note 8, which the company announced on Wednesday, retails for $930, so prices appear to be getting higher across the industry.

Apple is rumored to hold an event in early September when the company is expected to introduce an iPhone 7s, iPhone 7s Plus, and iPhone 8.