Apple Inc unveiled the iPhone 13 and the new iPad mini on Tuesday, expanding its 5G connectivity and showing off faster chips and sharper cameras without raising the price of the phone.
The Cupertino, Calif.-based company didn’t announce blockbuster features or products, but analysts expect customers hanging on older models like the iPhone X to be eager to upgrade. To facilitate trade-in, participating carriers are offering incentives for some customers to offer new phones for free prior to the New Year holiday season.
iPhone 13 is equipped with a new chip called A15 Bionic that enables features such as automatic text translation. The phone also features a better display, longer battery life, and a cinematic mode for automatically changing focus while shooting video. According to Apple, the iPhone 13 will feature a faster custom 5G antenna and wireless components and will be available in five colors.
Calls start at $ 699 and participating wireless operators offer discounts of up to $ 700 on eligible trade-ins. iPhone 13 Pro starts at $ 999, Pro Max starts at $ 1,099, and trade-in offers start at $ 1,000. All three models will be available on September 24th.
Prices are the same as last year, but some carriers, such as AT & T Inc, offer devices at no additional charge with subsidies of up to $ 1,000 if customers trade in their previous models and sign up for installment plans.
Verizon Communications Inc and T-Mobile US Inc offered similar deals, but with slightly lower subsidies, up to $ 700. The largest grant will be paid to customers submitting iPhone 11 and iPhone 12 models.
Ben Bajarin, Head of Consumer Technology at Creative Strategies, said he expects these aggressive calms as Apple and its operators seek to retain their customers.
“This offer is unique to Apple and is a strength that requires us to maintain these sales cycles for Apple and our carriers,” said Bajarin.
The iPhone is Apple’s most important product, but Apple has rolled out a web and other products of services that are considered to lock customers into the systems they enjoy and may cost money to leave.
The company also updated the iPad Mini with a 5G connection and redesigned it to look like high-end iPad Air and Pro models. Bob O’Donnell, head of TECHnalysis Research, said the small tablet is Apple’s most amazing announcement and could attract customers looking for a 5G device that can handle apps that are more powerful than phones. ..
“I don’t think it will replace other devices, as Apple has seen some of the larger iPads try to replace PCs,” O’Donnell said.
The price of the new iPad Mini has risen by $ 100, but with new features such as compatibility with the company’s Apple Pencil and a chip that’s faster than the larger-screen base model iPad, it goes against the trend of cheaper small screens. Apple has shown that doctors and other professionals are using the Mini.
Apple has also updated its base model iPad with a new camera. The new iPad starts at $ 329 and the Mini starts at $ 499. Both will be available next week.
Apple’s stock price has fallen by about 1%. This is a sharper decline than a slight decline in the broader market.
Rick Meckler, a partner at the family investment firm Cherry Lane Investments, said:
Apple’s biggest product launch this year begins with some brilliance out of stock as business practices such as charging software developer fees for in-app payments have been placed under regulatory scrutiny.
As of Tuesday’s closing price, Apple’s share price has risen about 11.6% year-to-date, following the Nasdaq Composite Index, which rose 16.7% over the same period.
Kim Forrest, founder and chief investment officer of Bokeh Capital, said he wasn’t worried about the lack of flashy and unexpected products as Apple’s upgrades could retain customers. “Consumers find it very difficult to get rid of Apple chips once they have them in their heads,” she said.
The Apple Watch is at the heart of the $ 30.6 billion accessory segment, up 25% in Apple’s most recent fiscal year, despite a slight decline in iPhone revenue. Analysts widely believe that Apple users who buy multiple products, such as the Apple Watch and iPhone, are more likely to stick to the brand and spend on their company’s apps and services.
Apple has focused on fitness features such as improved ways the watch tracks your bike training and dustproof hiking. This watch is closely paired with Apple Fitness +, a paid service that offers guided training by Apple instructors. The company has added Pilates, ski-oriented training and group training.
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