Smartphone giant Apple Inc. (NASDAQ: AAPL) will hold a private media event on Tuesday, where the company is expected to announce its next generation of iPhones. Consumers holding out for a 5G iPhone may still have to wait another generation to see a leap in mobile data speeds, but the Cupertino based company could have some surprises for analysts and fans.
Apple continues to dominate the high-end smartphone market in America, and its latest devices could help to expand the company’s position.
Three High End Smartphones and a Low-Cost Surprise
Market insiders believe that Apple will announce three new mainstream iPhone models on Tuesday, along with a less expensive model which is yet to be named.
The new models will reportedly be the iPhone 11 Pro, 11 Pro Max with a larger screen, and a standard iPhone 11.
Apple’s latest devices will all be 4G based and will include three rear cameras, much like the flagships of Android competitors in the last two years. The third camera will feature an ultra-wide-angle lens. As it has done in the past, Apple will likely include several AI-driven camera features to allow for better shots in a range of conditions.
The fourth and as yet unnamed model is expected to retail for $450, giving Apple a share of the larger and more lucrative mid-range smartphone market.
Apple’s new phones are likely to please the die-hard fans but may fail to impress tech news outlets. In the last three years, Apple has failed to innovate in any meaningful way, instead relying on its brand power to move units. The company has refined technologies brought to market by innovators like Samsung, Google, and LG.
iPhone sales have seen double-digit declines in recent quarters. New models could give Apple a boost this holiday shopping season.
Why Isn’t There a 5G iPhone Yet?
5G mobile networks are faster and come with less latency. This allows for a plethora of live service and connectivity options that aren’t possible on 4G. Companies like LG and Samsung already offer 5G phones in the U.S., but mainstream adoption is likely at least two years away.
The 5G network rollout will be slow and expensive, and only some major cities have partial coverage today. Apple can afford to wait for 5G to mature, allowing it time to create meaningful unique sales propositions.
Apple’s Performance in the Market This Year
Despite sales declines, Apple remains one of the world’s most valuable companies with a market capitalization of $963 billion. Stock has performed well this year, growing 35.20%. Analysts still rate it a top tech stock, due to the company’s staying power, incredible cash reserves, and long-term revenue potential.
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