Apple Inc unveiled the iPhone 13 and a new iPad mini on Tuesday, expanding 5G connectivity and showing faster chips and sharper cameras. The iPhone 13 will have a new chip called the A15 Bionic that will power features like auto-detection when the phone’s camera is pointed at text and will be available in five colors.
Although the Cupertino, Calif.-Based company has not announced any successful features or products, analysts expect customers hanging on to older models like the iPhone X to be eager to check out. upgrade.
The iPhone 13 will have a new chip called the A15 Bionic that will enable features like auto-detection when the phone’s camera is pointed at text. Apple said the iPhone 13 will have 5G antennas and custom radio components for faster speeds and will be available in five colors.
The phone will start at $ 699, and participating wireless carriers will offer up to $ 700 off qualifying trades. The iPhone 13 Pro starts at $ 999 and the Pro Max starts at $ 1,099, with trade-in offers of up to $ 1,000. All three models will be available on September 24.
“The competition is always catching up with our chips – not just last year, but even two years ago,” said Kaiann Drance, marketing manager for Apple iPhone.
The Series 7 smartwatch will feature a larger screen and faster charging. It will start at $ 399 and will be available later this fall.
The company has also updated its iPad Mini with 5G connectivity and a reworked design that makes it look like the high-end iPad Air and Pro models. Apple also updated its base iPad with a new camera for working and learning from home. The base iPad model starts at $ 329 and the Mini starts at $ 499. Both will be available next week.
Apple shares were down 0.5%, in line with a slight slowdown in broader markets.
“It seems there is nothing really groundbreaking being announced, but of course, as usual, they have announced enough improvements to at least generate some excitement among consumers,” said Rick Meckler, Partner. of the Cherry Lane Investments family investment office.
Last year, Apple introduced its iPhone 12, which featured a new look and its first devices with 5G connectivity. This year, analysts expect modest hardware upgrades and a greater focus on 5G.
In particular, carriers such as AT&T, Verizon Communications, and T-Mobile that have significantly expanded their networks since the start of this year are likely to offer new incentives around devices that can take advantage of the faster speeds that these networks can offer. said Ben Bajarin, head of consumer technology at Creative Strategies.
“There appears to be a lot more network capacity (5G network) than just six months ago,” Bajarin said. “They want people to improve themselves. They are going to be really aggressive.
Apple’s biggest product launch of the year comes as some of the shine has come off its stock, as business practices such as charging software developers commissions over in-app payments have taken hold. is subject to regulatory review.
Apple shares have risen about 15.6% year-to-date, behind the Nasdaq Composite Index, which rose nearly 19% over the same period.
Kim Forrest, founder and chief investment officer at Bokeh Capital, said she was not concerned about the lack of splashy and unexpected products because Apple’s upgrades would keep customers. “I think the consumer, once they have the Apple chip in their head, it’s very difficult to dislodge,” she said.
The Apple Watch has become the cornerstone of its $ 30.6 billion accessories segment, which grew 25% in Apple’s last fiscal year, even as its iPhone revenue fell slightly. . Analysts generally believe that Apple users who buy more than one product, like an Apple Watch and an iPhone, are more likely to stick with the brand and spend on the company’s apps and services. .
Apple focused on fitness features like improving the way the watch tracks bike workouts and dust protection for hiking. The watch is closely associated with Apple Fitness +, a paid service that offers guided workouts with Apple instructors. The company added workouts focused on pilates and skiing, as well as a group training feature designed to allow users to train together. The company has also bundled three months of free service with its watches.
Shares of exercise bike and online training company Peloton were down about 1.6%.
“This is the only service they offer where you literally have to have this product or you can’t use that service,” Bajarin said.