Tim Cook, take note. Singer Jason Derulo thinks the $1,000 price tag on Apple Inc.'s (AAPL) - Get Report new iPhone X is too high.

The singer-songwriter-dancer may have a net worth of $10 million, according to Celebrity Net Worth, but he's not one to throw cash around.

"I'm cheap," he told TheStreet in an interview when asked about the cost of the iPhone X. The pricey new smartphone was introduced earlier this week alongside the iPhone 8 and 8 Plus, as well as the third iteration of the Apple Watch. Derulo was speaking at a Bloomingdale's (owned by Macy's Inc (M) - Get Report ) in New York City at an event to launch a new clothing line coined LVL XIII, crafted by designer Antonio Brown, of which the singer is a spokesman.

"I'm definitely going to be buying the new iPhone, but the question is when," said Derulo, whose songs include Swalla, Want to Want Me and Whatcha Say. "I'll probably wait a couple months."

"I like my things to be on the low end," he added. "I'd be cool if it's in the $850 range."

Mr. Cook, any discounts for multimillionaires?

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