Four new iPhone models headlined Apple’s annual product launch today, and investors have high expectations. The company is hoping that several new innovations will convince customers to make the switch to the new phone, even though consumers have been holding onto iPhones for longer as prices have risen.
Apple rolled out the iPhone 12, 12 Mini, 12 Pro, and 12 Pro Max. While the Pro models do have some higher-end features like a third camera and LiDAR, all of the models will be equipped with 5G capability, easily the biggest change this year.
Success will hinge largely upon the willingness of consumers to pay up for access to the faster 5G speeds telecoms have been spending heavily on to build out. It should be helped along by the fact that an estimated 350 million iPhone users have waited 3.5 years or more to upgrade, indicating potential pent-up demand.