CUPERTINO, CALIFORNIA: Apple made headlines once again as it revealed its latest iPhone models on Tuesday. The iPhone 15 lineup brings a slew of enhancements, including improved cameras, faster processors, a new charging system, and a notable price increase for the top-tier model.
The product showcase took place at Apple’s headquarters in Cupertino, California, at a pivotal time for the tech giant. Apple has been grappling with a mild sales slump, with three consecutive quarters of declining sales compared to the previous year. This downturn has been a significant factor in the recent dip in Apple’s stock price, which fell by approximately 10% since mid-July, causing the company’s market value to dip below the remarkable $3 trillion threshold it achieved earlier in the summer.
Investors, however, appeared less enthusiastic about Apple’s latest offerings, with the company’s shares declining by nearly 2% on the day of the announcement, a steeper drop compared to the broader market indexes.
While the iPhone 15 models do not represent a significant technological leap, Apple has introduced several enhancements, primarily to the premium model, the iPhone 15 Pro Max. This move resulted in a $100 price increase, or 9%, compared to the previous year’s version, setting the starting price at $1,200. Alongside this higher base price, the least expensive version of the iPhone 15 Pro Max now provides 256 megabytes of storage, up from the previous 128 megabytes in the iPhone 14 Pro Max.
Apple has chosen to keep the prices of the rest of the lineup relatively stable, with the basic iPhone 15 priced at $800, the iPhone 15 Plus at $900, and the iPhone 15 Pro at $1,000.
Maintaining these prices may put pressure on Apple’s profit margins and further impact the company’s stock price. However, some experts, like Investing.com analyst Thomas Monteiro, view this decision as prudent, given the current backdrop of high inflation and rising interest rates, which are squeezing household budgets. Monteiro stated that the reality was that Apple found itself in a challenging position leading up to this event.
Interestingly, the price hike for the iPhone 15 Pro Max could potentially boost sales if consumers continue to favour Apple’s premium models. Wedbush Securities analyst Dan Ives predicts that the iPhone 15 Pro and Pro Max will account for approximately 75% of the device’s total sales in the coming year.
All the newly announced iPhone 15 models will be available in stores starting September 22, with preorders beginning this Friday.
Among the notable changes, Apple revealed its transition to the USB-C standard for charging the iPhone 15 models and future generations, aligning with what is already widely used on many devices, including Apple’s Mac computers and numerous iPads. This move is necessitated by a European regulatory mandate set to take effect in 2024, phasing out the Lightning port cables introduced in 2012.
Despite the initial resistance to change, the transition to USB-C ports may not be inconvenient for consumers, as the standard is already widely adopted across various computers, smartphones, and devices. Additionally, USB-C typically offers faster device charging and data transfer speeds, potentially making it a popular move.
The basic iPhone 15 models have been revamped to include a shape-shifting cutout on the display screen known as the “Dynamic Island,” designed for app notifications. This feature was initially introduced with last year’s Pro and Pro Max models. These basic models also feature a faster chip, previously used in the 2022 Pro and Pro Max models.
The premium iPhone 15 Pro and Pro Max models will run on an even more advanced processor, enabling them to handle video games typically reserved for consoles.
Apple’s commitment to photography continues with the iPhone 15 Pro and Pro Max, equipped with what the company claims is the equivalent of seven camera lenses. This includes a periscope-style telephoto lens that enhances long-distance photo quality. While the 5x optical zoom lags behind Samsung’s Galaxy S22 Ultra’s 10x optical zoom, it represents an improvement over the 3x optical zoom in the iPhone 14 Pro and Pro Max.
In anticipation of next year’s release of Apple’s mixed reality headset, the iPhone 15 Pro and Pro Max will also offer a spatial video option tailored for viewing on the forthcoming headset.
For the premium models, Apple has used a titanium alloy, similar to that used in some spacecraft, for the phone’s casing.
