By Stephen Nellis | Reuters
Apple Inc. unveiled the iPhone 13 and a new iPad mini on Tuesday, boosting 5G connectivity and showing faster chips and sharp cameras without raising the price of the phone.
The Cupertino-based company has not announced any blockbuster features or products, but analysts expect customers hanging on older models like the iPhone X to be interested in upgrading. To encourage trade-in, participating wireless carriers are offering incentives ahead of the year-end holiday season that could make a new phone free.
The iPhone 13 will have a new chip called the A15 Bionic so that the feature’s camera can be automatically detected when pointing to the text, and cinematic mode to automatically change focus when shooting video. Apple says the iPhone 13 will have custom 5G antennas and radio components for faster speeds and will come in five colors.
The phone will start at 6 699 and participating wireless carriers will offer discounts of up to $ 700 for trade-in eligibility. The iPhone 13 Pro starts at $ 999 and the Pro Max starts at $ 1,099, with trade-in offers up to $ 1,000. All three models will be available on September 24th.
“The competition still holds our chips – not just last year, but even two years ago,” said Apple iPhone marketing executive Kayan Dance.
The iPhone is Apple’s most important product, but Apple has launched a web of services and other products that seem to lock customers into a system they enjoy – and it would seem expensive to give up.
The Series 7 Smart Watch will have a larger display and faster charging. It will start at $ 399 and will be available later this fall.
The company has updated its iPad Mini with 5G connectivity and a rebuild design that makes it look like a high-end iPad Air and Pro model. Apple has updated its base-model iPad with a new camera for working and learning at home. The base model iPad starts at 329, and the mini starts at 499. Both will be available next week.
Apple shares fell 1.6%, a sharp fall rather than a slight recession in the broader market.
“There doesn’t seem to be anything really declared revolutionary, but naturally they’ve announced enough improvements to create some excitement among consumers,” said Rick McLaren, a partner at Cherry Lane Investment, the family’s investment office.
In particular, carriers such as AT&T Inc., Verizon Communications, and T-Mobile, which have built their networks significantly since the beginning of this year, may be given new impetus around devices that can take advantage of the speed of those networks, said Ben Bazarin, head of consumer technology at Creative Strategy. Said.
“It looks like six months ago there was a lot more (5G network capacity),” Bazarin said. “They want the betterment of the people. They are going to be really aggressive. ”
Apple’s biggest product launch of the year comes when some of its glitches ran out of stock as business practices such as charging commissions to software developers for payments in the app came under regulatory scrutiny.
Shares of Apple rose nearly 15.6%, leaving the Nasdaq Composite Index behind, up nearly 19% over the same period.
Kim Forrest, founder and chief investment officer at Bokeh Capital, said he’s not worried about the lack of splashy, unexpected products that Apple’s upgrade will hold customers. “I think the consumer, once it gets the Apple chip in its head, it’s very hard to remove it,” he said.
Apple Watch .60. Billions of dollars have become the cornerstone of the accessories segment, which has grown by 25% in Apple’s recent fiscal year, although the iPhone’s revenue has declined slightly. Analysts widely believe that Apple users who buy multiple products – such as an Apple Watch and iPhone – are more likely to stick with their brand and spend on the company’s apps and services.
Apple has focused on fitness features such as how the watch tracks dust protection for cycling workouts and hiking. The watch is closely linked to Apple Fitness +, a paid service that provides guided workouts with Apple instructors. The company has added Pilates and skiing-based workouts and a group workout function designed for users to work together. The company has bundled three months of free service with its watch devices.
Shares of exercise bike and online training firm Peloton fell nearly 1.6%.
Bazarin said, “This is a service that they offer where you literally have to have this product or you can’t use this service.”