San Francisco, Feb 6 (IANS): Apple is considering launching a high-end iPhone "Ultra" above its Pro and Pro Max models, which could arrive by 2024 alongside the iPhone 16 lineup.

According to Apple tracker Mark Gurman, the tech giant's plan to differentiate the Pro and Pro Max has fueled speculation of launching a high-end brand -- the Ultra.

During Apple's earnings call last week, Apple CEO Tim Cook did not rule out the possibility of a future price increase on iPhones.

Instead, he suggested that customers might be willing to pay more for a higher-quality product.

"The iPhone has become so integral into people's lives," Cook was quoted as saying.

"I think people are willing to really stretch to get the best they can afford in that category," he added.

Moreover, Gurman stated that it is unclear how the top-of-the-line model will differ, but it will most likely include additional camera improvements, a faster chip, and possibly an even larger display.

There also may be more future-forward features, such as finally dropping the charging port, he added.

Meanwhile, Apple will reportedly launch a new 'Apple Watch Ultra' with a larger 2.1-inch display next year.

The new wearable is expected to become the first Apple Watch with over a 50mm case size.

The new Ultra is also likely to feature microLED display technology, which will offer higher brightness, decreased power consumption and improved contrast ratio as compared to the current models with OLED displays.