Apple on Tuesday unveiled its next generation of iPhones — a line-up that will boast better cameras, faster processors, a new charging system and a price hike for the fanciest model.
The showcase at Apple's headquarters in Cupertino, California, comes as the company tries to reverse a mild slump that has seen its sales drop from last year in three consecutive quarters. The malaise is a key reason Apple's stock price has dipped by about 10% since mid-July, dropping the company's market value below the $3 trillion threshold it reached for the first time earlier this summer.
Apple iPhone Series 9 models are displayed amongst other new products during a launch event at Apple Park in Cupertino, California, on September 12, 2023. And the price hike for the iPhone 15 Pro Max could help Apple boost sales if consumers continue to gravitate toward the company's premium models. Wedbush Securities analyst Dan Ives expects the iPhone 15 Pro and Pro Max to account for about 75% of the device's total sales in the upcoming year.CUPERTINO, CALIFORNIA - SEPTEMBER 12: Attendees look at the new iPhone 15 during an Apple event at the Steve Jobs Theater at Apple Park on September 12, 2023 in Cupertino, California.
The basic iPhone 15 models have been redesigned to include a shape-shifting cutout on the display screen that Apple calls its "Dynamic Island" for app notifications — a look that was introduced with last year's Pro and Pro Max devices.
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