Apple Inc on Tuesday released four versions of the iPhone 12 with faster 5G connectivity, starting at $ 699, which the Cupertino, California company hopes will spur a wave of updates and keep sales booming through the end of the year.
The iPhone 12, with a 6.1-inch screen, will sell for $ 799. The phone has flat sides with a recessed screen, similar to the company’s iPhone 5 and a departure from the rounded edges of recent years.
Apple also introduced a “Mini” version, which has the same features but a smaller 5.4-inch screen and will sell for $ 699, as well as a “Pro” version with three cameras starting at $ 999 and a “Pro Max”. starting at $ 1,099 and going up to $ 1399.
The new products will test whether Apple can capitalize on a wave of consumer excitement around 5G wireless data networks, the fastest variants of which exceed the data speeds of their predecessors by several times.
Apple said that all iPhone 12 models in the US will support 5G millimeter wave, the fastest variant of the technology, as well as low-frequency bands.
Some rival Android devices only support the lower frequency versions of 5G.
Hans Vestberg, CEO of Verizon Communications Inc, said the phones would work on the carrier’s “ultra-wideband” 5G network, designed to alleviate bottlenecks in major cities like New York and Los Angeles, as well as in busy areas. like NFL stadiums.
Apple said it had tested 5G in more than 800 carriers in 30 regions globally.
Apple shares fell more than 3 percent during the event, erasing $ 77 billion in market value.
Apple may face a tepid holiday season due to the coronavirus pandemic, said Jake Dollarhide, chief executive of Longbow Asset Management in Tulsa, Oklahoma.
“With the convergence of flu season with COVID and colder weather forcing everyone to be indoors, I think it will be more difficult to sell iPhones this Christmas.
As much as Apple is a technology company, it is not known for its online sales, it is known for its in-store experience, “Dollarhide said.
In China, the largest online video platforms, including Tencent Holdings and Bilibili Inc, canceled Apple’s live streaming event without explanation, Bloomberg News reported.
Pre-orders for the iPhone 12 and iPhone 12 Pro in the US and select other regions begin on October 16 and go on sale on October 23.
The iPhone Mini and Pro Max will be available for pre-order on November 6 and in stores on November 13.
Apple also announced a HomePod Mini smart speaker that will cost $ 99 and will ship from November 16. Many of the features serve to catch up with similar offerings from Amazon.com Inc and Google from Alphabet Inc.
The annual launch event is almost a month later than normal and comes as the coronavirus pandemic has disrupted Apple’s well-oiled machine to design and produce its best-selling product.
The company is in a delicate position of having to get consumers excited about 5G without causing disappointment: For many of its fans, it will be their first experience with 5G networks, which in the US are years away from delivering increases of dramatic speed for most consumers.
Some analysts worry that Apple will sell a high-powered sports car while its customers remain confined to quiet village roads.
But despite waves of retail store closures and travel bans that delayed iPhone development, Apple’s financial results have largely weathered the pandemic.
In July, in its most recent earnings, the company posted year-over-year revenue gains across all categories and across all geographies as consumers working and learning from home during the COVID-19 pandemic turned to its products and services.
Apple launched new watch models with blood oxygen sensors last month and updated its iPad models.
The company is also committed to introducing new Mac computers by the end of the year based on processors of its own design.