If someone wants to take the idea of the iPhone, they are free to. Although, the only reason why the iPhone gained its popularity, was not due to its price, but its premium feature set, ease-of-use, low setup time and availability to be used by people with little technical knowledge.
I can't think of many successful launches of products with a high price. However, having said that, XF should start by underestimating demand and the value of, for the product. From this, calculate the total costs, analysing the competitive landscape, and thus, map-out a complete, but omnidirectional long-term strategy. For the business to succeed, the price must simply be greater than the overall costs for the business to survive. In product launches, it is often that the businesses underprice the product.
What I feel is that the business needs to understand segmentation. This will come through both qualitative and quantitative research, but more of the latter. Consequently, you can manage and optimise market penetration and how you should adopt a pricing strategy when one set of customers is willing to pay more than the other. The one thing I don't recommend is to start a price-war.