Rumors on Apple’s (AAPL, Financial) latest offerings have been in the air for quite a few months. Ultimately yesterday, on September 9, the Apple event was held where a few new products were launched, and it has made the adrenaline peak for several Apple fans. So, what’s new in terms of the company offerings that will lure the crowd, and even might push non-Apple buyers to turn first-time Apple buyers? Let’s check it out.
At the event in the Flint Center
Apple unwrapped a watch, two large iPhones and a mobile payment service at the event. CEO Tim Cook stated during the two-hour event that he is interested in reviving the technology company’s reputation as a wellspring of innovation.
After the products were announced, the primary impressions in the market were mixed, and analysts did have a mixed set of opinions. Some suggested that these products will help to wane away competition easily for Apple while others felt that, as Apple products are premium priced, it might not be able to win over the rivals.
Also Apple’s top bosses left behind a few lingering questions, as to what the battery life of the newly unveiled i-Watch would be, how much consumers could trust Apple’s Pay system with their credit card details after several customers have been left wondering if they can trust Apple with their photos after the recent security breach.
The next-gen gizmos
For years, Apple has kept its iconic smartphone to a standard 4-inch diagonal screen size. This time, the company confirmed multiple rumors that it was launching a much bigger smartphone to catch up with competitors such as Samsung (SSNLF, Financial). It’s finally launching a thinner and sleeker but bigger screen sized 4.7 inch iPhone 6 and a 5.5 inch iPhone 6 Plus.
Apple has accepted that the market has moved in the direction that was not predicted by the initial founder Steve Jobs. Indeed, the number of so-called activated phablets has just doubled in the past twelve months, according to app tracking firm Flurry. Apple is venturing into the phablet space and hopes that it will maintain the bottom line of Apple’s i-Phone business, which currently contributes to around 70% of its profit. The iPhone 6 and iPhone 6 Plus would be both premium priced with a starting range of $199 and $299, respectively.
The iPhone 6 and iPhone 6 Plus would support long-term evolution (LTE) and voice over LTE across 200 carriers. The new bigger iPhones would be available in the U.S. market September 19. Pre-booking orders would begin September 12.
Cook also took the grand opportunity to reveal the upcoming wearable Apple product that would be the flagship brand in the wearable segment and is opening up a new chapter in Apple’s story.
In the event, as Cook walked off the stage, the main screen displayed a video showing a shiny silver smart watch –Â Apple’s i-Watch. The watch has been displayed as a stainless steel wearable gadget with interchangeable straps and a scrolling button at its side that resembles the iPod’s original scrolling wheel.
The price seems to be on the higher side as witnessed normally for Apple products with the sticker price hovering around $349 and the watch would start shipping early next year.
Apple enters a newer domain
Apple is entering a new area by revealing the mobile wallet named the Apple Pay that would store the user’s credit card information for quick and seamless transactions. The remarkable part in this launch is that Apple has already made a pact with several companies who are ready to accept transactions through Apple Pay in the U.S. Apple has also struck a partnership deal with Visa, MasterCard and American Express for its pay device.
Apple Pay will work with iPhone 6 and iPhone 6 Plus through a groundbreaking NFC antenna design, a dedicated chip called the Secure Element, and the security and convenience of Touch ID. Since Apple Pay is easy to set up, hence hundreds of millions of users can simply add their credit or debit card on the file. Apple Pay would also work with the newly announced Apple Watch, extending Apple Pay to over 200 million owners of iPhone 5, iPhone 5c and iPhone 5s worldwide. Apple Watch will also work at the over 220,000 merchant locations across the U.S. that have contactless payment enabled so that a user wearing the gadget can make easy payments using the Pay system.
Analysts have opined that this pay device could be a "game changer" for Apple and could ultimately plough in better profits for the company in the coming year. When credit or debit card information is entered with Apple Pay, the actual card numbers are not stored on the device nor on Apple servers. Instead, a unique Device Account Number gets assigned, encrypted and securely stored in the Secure Element on your iPhone or Apple Watch.
Each transaction is authorized with a one-time unique number using your Device Account Number and instead of using the security code from the back of your card; Apple Pay creates a dynamic security code to securely validate each transaction. So, Apple urges to change the entire card payment dynamics through this product launch in the U.S. from October this year.
Final word
In the Apple event, the management tried to unveil the best products required in this age and all the products might turn to be Apple’s flagship brands in their respective sectors. There will be more to cover after the product range hits the market finally when the sales figures will be revealed and then a comparison of Apple’s sales vis-à -vis its immediate rivals might be computed. Let’s stay tuned till the unveiled gadgets are released into the market when the final story will be written on Apple’s upcoming future in the fast-moving tech world.
