New iPhones seen setting Apple up for a big holiday season with consumers
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With its new iPhone 14 line of smartphones, Apple (NASDAQ:AAPL) is looking to stoke enthusiasm for its bellwether revenue source by adding new technological bells and whistles while also appealing to consumers' concerns about the current state of economic uncertainty.
That approach could be seen as Apple (AAPL) unveiled the newest iteration of the iPhone at an event held Wednesday at the company's Steve Jobs Theater in Cupertino, California. The event was also notable in that it was Apple's (AAPL) first in-person product launch since the start of the COVID-19 pandemic more than two years ago.
And taking center stage were four new iPhones--the iPhone 14, iPhone 14 Plus, iPhone 14 Pro and iPhone 14 Pro Max -- with the iPhone 14 starting at $799. That Apple (AAPL) didn't raise the price of the newest iPhone was seen as a sign that while Apple (AAPL) still expects to command a premium for its products, the company isn't immune to the potential that its customers may re-think their discretionary spending on tech gadgets.
"They did enough to keep iPhone growth going," said Gene Munster, managing partner with Loup Ventures. "Maintaining pricing is the new price cut, and that should be good for demand."
All four new iPhone models will be available for order on September 9, and can be purchased starting September 16.
In addition to the line of new iPhones, Apple (AAPL) debuted a new version of its AirPods Pro, the Apple Watch Series 8 smartwatch, and the new Apple Watch Ultra, which is being marketed to individuals involved in extreme sporting and other activities.
As always is the case with Apple (AAPL) and the iPhone, the company touted the new features available with the devices' cameras. Among the upgrades are a 12-megapixel main camera in the iPhone 14, and a 48-megapixel camera with the Pro models.
But, it was two other features that stood out, and which suggested Apple (AAPL) wants to sell consumers something more than just a new camera.
One is that the new iPhones will no longer come with a physical SIM card. Instead, the phones will utilize eSIM technology with what is, in effect, a digital SIM card. Apple (AAPL) said the eSIM card provides more security than a traditional SIM card, and will also let users have the option of multiple cell plans on a single phone.
The second was the addition of satellite phone technology that provides features such as automotive crash detection and the ability to make emergency calls using satellites. The new iPhones will also include a feature that will direct people to where they should point their phones in the sky in order to make satellite calls. The satellite connectivity technology will be provided by Globalstar (NYSE:GSAT).
Tim Bajarin, director of tech consultancy Creative Strategies, said that with its new products, Apple (AAPL) has given many people who might have been sitting on the fence several reasons to upgrade their iPhones and Apple Watches.
"This is a strong lineup of products for the fall," Bajarin said. "The addition of satellite emergency services and crash detection launch a new era where Apple says, 'We have your back.' They have new features that will drive more features in other smartphones and smartwatches."
Dan Ives, of Wedbush, said Apple (AAPL) is certainly unveiling the new products with an eye towards the Christmas and holiday shopping season and building upon "the underlying demand story" with the iPhone, in particular.
"We believe Apple is expecting another heavy iPhone Pro and Pro Max mix shift," Ives said, adding that the features of the new iPhones should pull in a good portion of the approximately 240M of the 1B worldwide iPhone owners that haven't upgraded their devices in more than three years.
While Apple (AAPL) focused on the iPhone, Apple Watch and AirPods at its event, reports came out of China about COVID-related lockdowns in an area where the company's iPads and MacBook laptops are produced.