Apple sets March 21 event, Wall Street sees new, smaller iPhone

Published: March 11, 2016
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An Apple logo hangs above the entrance to the Apple store on 5th Avenue in New York City, in this file photo taken July 21, 2015. PHOTO: REUTERS

An Apple logo hangs above the entrance to the Apple store on 5th Avenue in New York City, in this file photo taken July 21, 2015. PHOTO: REUTERS

Apple Inc (AAPL.O) sent an invite to reporters on Thursday for an event at its Cupertino, California headquarters on March 21, possibly signaling the unveiling of a new, smaller iPhone.

The world’s best-known technology company often reveals new products at such events. It is expected to update its flagship iPhone and iPad products soon.

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Some Wall Street analysts expect the company to use the event to unveil a four-inch (10-cm) screen phone, reintroducing the smaller size after enlarging screens with the iPhone 6 and 6 Plus in 2014.

Apple shares have risen in the past two weeks as Wall Street bet the company will launch a less expensive iPhone this month to boost sales in developing countries like China.

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With US consumers upgrading their smartphones less often, manufacturers have been relying on China for growth.

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