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Apple Inc (AAPL) Just Cancelled The Biggest iPhone 7 Model: Rumor

iphone 7 apple inc (NASDAQ:AAPL)

Apple Inc. ‘s iPhone 7 is so close to its release, and the firm has likely made the decision to cancel the largest, most powerful and the most expensive iPhone ever. Mac Otakara – a reliable source – says the iPhone 7 Pro is no more, notes a report from Forbes.

Apple Inc (AAPL) iPhone

No need for iPhone Pro?

Apple will release the iPhone 7 and iPhone 7 Plus, but feels there is no need of a new top of the range model above them. “While it will use the ‘iPhone 7’ moniker for the range to avoid customer confusion, after toying with new branding given the range still uses the core iPhone 6 design launched in 2014,” the Forbes report notes.

Apple Inc. was not sure in the beginning if it would be able to produce its new dual lens camera in sufficient quantities for the iPhone 7 Plus, and planned the iPhone 7 Pro as a backup model, as per MacRumors. This would have meant that the same single lens would have been shared between the iPhone 7 and iPhone 7 Plus while upgraded optics would have been there for the iPhone 7 Pro, but in limited quantities, the report notes.

However, Apple appears to have solved the manufacturing constraints around the dual lens camera, and hence, it can now be fitted into every iPhone 7 Plus, thus expanding the range is not required. This also demonstrates that Apple is quite keen to introduce its dual lens camera in the market in 2016.

Also, this was important for the iPhone maker since phones with this technology are already sold by rivals like LG and Huawei. In addition, it has lost the coveted best smartphone camera status to Samsung’s Galaxy S6 and Galaxy S7, the report notes.

Both good and bad for Apple

Having one less iPhone 7 model is both a good and bad thing for Apple. Fewer models mean keeping the range simple. Also, there are few negatives. Initially, it appeared as if the iPhone 7 Pro would be a no compromise device including a Smart Connector as – seemingly missing from the iPhone 7 Plus. The leaks suggested the device will sport a huge 5.8-inch display and OLED panel. All of these are significant differentiators, and buyers will surely will this (if Mac Otakara report is true).

Nevertheless, it can be said that Apple Inc. has made a smart move. But is slightly disappointing for the customers expecting the firm to shake up things a bit more. Such buyers must be disappointed though as the real iPhone revolution will reportedly start in 2017.

On Friday, Apple shares closed up 0.26% at $109.36. Year to date, the stock is up almost 2% while in the last one-year, it is down almost 7%. The stock has a 52-week high of $123.82 and a 52-week low of $89.47.

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Aman is MBA (Finance) with an experience on both marketing and Finance side. He has work as a Risk Analyst for AIR Worldwide, and is currently leading VeRa FinServ, a Financial Research firm. Favorite pastimes include watching science fiction movies, playing PC games and cricket.

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