Apple Launches iPhone 12 Line With 5G Speeds, New Screens
(Bloomberg) — Apple Inc. unveiled its latest range of iPhones, a product line that Wall Street expects will kick off a new cycle of sales growth for the world’s largest technology company.
At a virtual event on Tuesday, the company showed off the iPhone 12 in black, red, blue, green and white with a 6.1-inch screen. It starts at $799. A smaller version, the iPhone 12 mini, costs $699. The phones use aluminum sides.
There’s also an iPhone 12 Pro, starting at $999 and a iPhone 12 Pro Max that costs at least $1,099, both with stainless steel edges. The Max has a 6.7-inch (17 cm) screen, Apple’s largest ever, while the regular Pro has a 6.1-inch display. They come in blue, gold, graphite or silver.
Some analysts praised Apple’s pricing strategy, especially the $699 mini handset which may entice users with older, smaller iPhones to upgrade.
“The pricing dynamics are the killer app for the phone launch,” Harsh Kumar of Piper Sandler & Co. wrote in a research note. “Pricing was lower than our expectation, which is important in the current global pandemic.” Cheaper devices may help increase Apple’s installed base of devices, driving further growth of more profitable services, he added.
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, a new wireless standard that can transmit data as much as 10 times faster than the current 4G LTE technology.
The Cupertino, California-based technology giant has generated relatively little sales growth from its marquee product in recent years as consumers hold onto their phones for longer. Quarterly revenue from this segment peaked in the first quarter of Apple’s 2018 fiscal year.