Apple to Host Oct. 13 Event; 5G iPhone Expected
October 06 2020 - 2:30PM
Dow Jones News
By Dave Sebastian
Apple Inc. said it would host an online event next week, at
which the company is expected to reveal an iPhone with 5G
connectivity.
The Cupertino, Calif., company didn't immediately respond to a
request for comment regarding the nature of the Oct. 13 event.
Apple included the tagline "Hi, Speed" with its announcement.
The event comes a month after the tech company unveiled its
smartwatch that can measure blood oxygen as well as a virtual
fitness service. The company's September event was its first
virtual-only product introduction from its headquarters, where past
events have attracted crowds of journalists, employees and guests
to help hype the latest offerings.
The September event also marked a shift from the company's
custom of Chief Executive Tim Cook unveiling the latest flagship
iPhone, as he has done every September since 2012. Finance chief
Luca Maestri on a July call discussing quarterly results said the
iPhone launch would come a few weeks later than the previous
year.
Expectations are high for the next iPhone because the 5G
connectivity is expected to usher in big sales and fat profits,
investors and analysts say. The next-generation iPhone is among the
most anticipated since 2014, when Apple introduced a
larger-screened option of the device, which now makes up about 50%
of its annual sales.
Production of the next iPhone has been delayed as the company
has faced coronavirus-related manufacturing challenges stemming
from plant closures and travel restrictions to China.
Apple has turned to services revenue to help offset slowing
iPhone sales growth. Services revenue -- which includes the App
Store, Apple Music and AppleCare among other businesses -- jumped
15% to $13.16 billion in the April-to-June quarter, while the
company's iPhone business increased 2% to $26.42 billion.
Write to Dave Sebastian at dave.sebastian@wsj.com
(END) Dow Jones Newswires
October 06, 2020 14:15 ET (18:15 GMT)
Copyright (c) 2020 Dow Jones & Company, Inc.
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