By Michael Liedtke
Apple on Tuesday unveiled its next generation of iPhones — a line-up that will boast better cameras, faster processors, a new charging system and a price hike for the fanciest model.
The showcase at Apple's headquarters in Cupertino, Calif., comes as the company tries to reverse a mild slump that has seen its sales drop from last year in three consecutive quarters. The malaise is a key reason Apple's stock price has dipped by nearly 10% since mid-July, dropping the company's market value below the $3 trillion threshold it reached for the first time earlier this summer.
Investors apparently were not impressed with what Apple rolled out Tuesday. The company's shares were down by nearly 2% during afternoon trading.
As has been the case with Apple and other smartphone makers, the four types of iPhone 15 models aren't making any major leaps in technology. But Apple added enough new bells and whistles to the top-of-the-line model — the iPhone 15 Pro Max — to boost its price by $100, or 9%, from last year's version to $1,200.
Apple is holding the line on prices for the rest of the line-up, with the basic iPhone 15 selling for $800, the iPhone 15 Plus for $900 and the iPhone 15 Pro for $1,000.
All the new models will be available in stores Sept. 22, with pre-orders beginning this Friday.
One of the biggest changes that Apple announced is a new way to charge the iPhone 15 models and future generations. The company is switching over to the USB-C standard that is already widely used on many devices, including its Mac computers and many of its iPads.
Apple is being forced to phase out the Lightning port cables it rolled out in 2012 because of a mandate that European regulators plan to impose in 2024.
Although consumers often don't like change, the transition to USB-C ports may not be that inconvenient. That’s because the standard is already widely used on a range of computers, smartphones and other devices people already own. The shift to USB-C may even be a popular move since that standard typically charges devices more quickly and also offers faster data transfer speeds.
The basic iPhone 15 models have been redesigned to include a shape-shifting cutout on the display screen that Apple calls its “Dynamic Island” for app notifications — a look that was introduced with last year's Pro and Pro Max devices. The basic models are also getting a faster chip used in last year's Pro and Pro Max models, while the next generation of the premium iPhone 15s will run on an even more advanced processor.
The iPhone 15 Pro and Pro Max also will be equipped with what Apple maintains is the equivalent of seven camera lenses. They will include a periscope-style telephoto lens that will improve the quality of photos taken from far distances. The telephoto lens boasts a 5x optical zoom, which lags the 10x optical zoom on Samsung's premium Galaxy S22 Ultra, but represents an upgrade from the 3x optical zoom on the iPhone 14 Pro and Pro Max.
Apple is encasing the premium models in titanium that the company says is the same alloy used on some spaceships.
Besides its new iPhones, Apple also announced its next generation of smartwatches — a product that made its debut nearly a decade ago. The Series 9 Apple Watch, available in stores September 22, will include a new gesture control that will enable users to control alarms and answer phone calls by double snapping their thumbs with a finger.
Former Take-Two CEO Kelly Sumner is looking for the next big game. But rather than investing hundreds of millions, his blockchain-based video game publisher Planet Digital Partners is targeting mid-level games often ignored by big publishers.
"Electronic Arts, Take-Two, Activision ($ATVI), etc., they are spending hundreds of millions of dollars on a game, expecting to be ... getting billions. And the kind of middle, where there's sort of really good, exciting games, isn't there," Sumner told Cheddar Friday.
At Amazon's annual shareholder meeting this spring, a group of investors will be asking the tech giant to halt all governments sales of its proprietary facial recognition technology, known as Rekognition. The software, which scans faces and can read human emotions, tells the government "who we are, what we are, what we're doing, and who we're doing it with," said Michael Connor, the executive director of corporate accountability non-profit Open Mic.
Tesla CEO Elon Musk's email to employees on Friday announcing that the electric car maker will be slashing its workforce by 7 percent is just the latest in a long line of troubles for the embattled company ー troubles that brand and marketing expert Ian Wishingrad don't see ending any time soon.
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Microsoft President Brad Smith called for an end to the government shutdown during an appearance on Cheddar Thursday, saying that the political stalemate in the U.S. is contributing to broader international instability resulting from the ongoing Brexit chaos and weakness in the Chinese economy.
Inflated housing prices and long commute times in tech hubs nationwide is "sapping the vitality" from cities, Microsoft President Brad Smith told Cheddar Thursday following the company's announcement it would invest $500 million to address affordable housing and homelessness in and around Seattle, Wash.
TradeStation, the online broker-dealer, is dipping its toes into crypto. Speaking with Cheddar's Tanaya Macheel at the North American Bitcoin Conference in Miami on Thursday, CEO John Bartleman said crypto trading would be a "natural extension" to the asset classes currently offered on the TradeStation platform.
Abra, the crypto exchange and digital wallet startup, is trying to fundamentally change the way banking is done with a simple consumer-facing app that allows users to effectively create "synthetic" dollars using the inherent value of Bitcoin and other cryptocurrencies. Bill Barhydt, Abra's co-founder and CEO, explained the strategy to Cheddar's Tanaya Macheel at the North American Bitcoin Conference in Miami.
Ford Motor Company and Volkswagen AG announced at the Detroit Auto Show they will form a "broad alliance," but the reality of a partnership may present certain conflicts for both companies. "I think that this is going to be a very difficult friendship to make work because Ford ($F) is expected to make some pickup trucks for Volkswagen, which sounds good because Volkswagen needs those pickups in other markets," Nathan Bomey, business reporter at USA Today, told Cheddar Wednesday.
There is a scene in the 2002 sci-fi film "Minority Report" that has always struck me. John Anderton, the film's protagonist played by Tom Cruise, is running through a mall, bombarded by ads from premium brands like American Express and Lexus that are tailor-made just for him. I was always fascinated by that moment in the film ー because it seemed so far-fetched and dystopian, but at the same time, almost pre-ordained.
