Apple Stock Falls 4% After New 5G iPhone Launch
Apple has finally rolled out a 5G iPhone with the US Companies stock falling almost 4% on the news, Apple’s 5G launch comes over a year after Samsung and other rivals started selling handsets supporting the standard.
The front of the phones looks similar to last year’s iPhone 11, but the edges are now flat instead of curved. They all support 5G, which Apple claims can transmit data as much as 10 times faster than the current 4G LTE technology that is until you try them on the Telstra network.
Wall Street is hoping that the launch of both value and premium iPhones will kick off a new cycle of sales growth for the world’s largest technology company who has also launched new sound products.
Apple Chief executive Tim Cook and other executives launched the new lines of phones via webcast from the company’s Cupertino, headquarters in hope that promises of super fast 5G speeds will spur a massive wave of upgrades and boost sales.
Wedbush analyst Dan Ives called Tuesday’s launch “Apple’s most important product cycle since the iPhone 6 in 2014,” predicting it will “translate into a “supercycle” for Cupertino for the next year.”
The iPhone 12 mini will come with a 5.4-inch screen, smaller than the 6.1-inch screen on the standard iPhone 12 and the iPhone 12 Pro, and much smaller than the 6.7-inch screen on the iPhone 12 Pro Max.
The iPhone 12 Pro and iPhone 12 Pro Max will start at $1699 and $1849, respectively, when they go on pre-sale on October 16 and November 7.
The $1,199 iPhone mini is a “mid-tier” phone that will compete with the Samsung Galaxy S20 FE model as well as a sub $600 5G smartphone offering from Motorola and new product from TCL.
a few hundred dollars cheaper than the iPhone 11, which is currently priced at $1199 Apple is hoping to address a shift in buyers moving to mid-tier devices over premium.
With the iPhone 12 mini now filling the price point of the standard iPhone 11, the standard iPhone 12 has gone up by $150, or 12.5 per cent, compared to the phone it is replacing. It now starts at $1349.
Pre-orders for iPhone 12 begin on Friday, October 16, with shipping beginning on October 23. The iPhone 12 mini will be available for pre-order from November 7, with shipping beginning on November 13, Apple said.
The new handsets have a faster A14 processor and updated cameras and use sharper OLED screens, an improvement from last year’s cheaper LCD screens, Apple said.
The company showcased major improvements to the iPhone 12 Pro Max cameras, including with video recording and zooming in during picture taking which are standard features on the Samsung S20.
The handsets also support a new magnetic version of wireless charging called MagSafe. That lets the phones magnetically attach to new charging pads from Apple and other providers.
The new iPhones will be based around a new Apple processor, known as the A14 Bionic, which is as much as 50 per cent faster than any processor in any other phone on the market, both in terms of processing (CPU) and graphics (GPU) performance, Apple officials said during the launch event.
All models will now have OLED displays, where previously only the Pro models had the better screen technology.
Apple will also offer several new cases to support the new charging system.
Apple did not include headphones or a charging adapter with the new iPhones, a move it said would be beneficial to the environment. It is also a change that could help Apple save hundreds of millions of dollars over time and lift sales of AirPods.