Apple rolled out iPhone 16 At its annual September product event, it showcases the artificial intelligence and machine learning capabilities of the new devices.
“We’re thrilled to introduce the first iPhones designed from the ground up for Apple Intelligence and its breakthrough capabilities,” Apple CEO Tim Cook said.
Apple Intelligence launched last June and represents Apple’s attempt to join the AI arms race that has transformed the tech sector and helped propel a new player, Nvidia, into the elite ranks.
Other products introduced during the event include the Apple Watch Series 10, which has the largest screen size of any watch from the company with 30% more screen area.
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New versions of AirPods and the high-end AirPods Max were also unveiled. The company’s best-selling earbuds model, the AirPods Pro 2, didn’t get a full-scale upgrade. However, some innovative changes to its software enable it to serve as a hearing aid. It also includes hearing protection equipment and can administer a clinically verified hearing test.
The performance of the iPhone has a huge impact on Apple’s overall financial position. Phone sales accounted for $39.3 billion (46% of the total) in the company’s fiscal third quarter, which ended June 29. Services is the next highest-grossing segment, collecting $24.2 billion in quarterly revenue.
Rolling out new phones and products has long been a September tradition for Apple, which sees its heaviest consumer activity in the fourth quarter, especially during the year-end holiday season.
Investors didn’t seem overly enthusiastic about news of the event. Shares of Apple fell 1% to $217.56 as it opened. They are up 15% to 2024 in today’s trading.
“What a remarkable day of announcements about products that continue to impact our lives,” Cook said in his pre-recorded wrap-up remarks.
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