The iPhone Ultra was originally intended to be a premium model costing consumers $2,000. That was still the case until the memory and flash crisis became a bigger problem.

A render of the iPhone Ultra – Image Credit: AppleInsider
There’s no question that the iPhone Ultra will be an expensive device. With a starting price thought to be at $2,099 by analysts and with upper-specification models hitting $3,000, it will be the most premium-priced iPhone ever.
While it seems expensive, and even more so because of the memory crisis affecting the tech industry at large, it was always planned this way.