Apple Inc. is set to unveil the iPhone 7 on Wednesday at a media event in San Francisco. The event will begin at 1 p.m. ET at the Bill Graham Civic Auditorium. The U.S. tech giant is also expected to launch a new Apple Watch at the event. Investors are worried about declining iPhone sales and interested to see what changes the company has made in new iPhone and Apple Watch.
For the first time in 2016, the iPhone maker reported a decline in the iPhone sales. The company generates about 70% revenue through smartphone sales. The Wall Street is also concerned about Apple’s growth prospectus in China where the company’s sales plunged 26% in the fiscal second quarter. The company’s stock, however, is in green for the year, up 4.58% during the last six month.
Let’s take a look at what the reports have been saying about the iPhone 7.
Apple iPhone 7
The iPhone 7 will be similar to the iPhone 6 and there won’t a major change to the design, according to the rumors. The phone will come in five colors, and without a 3.5mm headphone jack. The company is killing the headphone jack to make the iPhone 7 up to 1mm thinner, according the reports.
The iPhone 7 will come in five colors and feature dual 12mp camera and IPX7 water resistance, KGI analyst Ming-Chi Kuo said in a report on Saturday. The noted Apple analyst claims that the new iPhone will be powered by a new A10 chip supplied by TSMC. Kuo also said that the iPhone 7 will come in storage capacities of 32 GB, 128 GB, and 256 GB, according to a report from Apple Insider.
Apple Inc. is expected to announce the two versions of the iPhone: the iPhone 7 and iPhone 7 Plus. Reports suggested that the new smartphones will come with 4.7-inch and 5.5-inch screen sizes.
What Analysts Think About iPhone 7
The iPhone sales dropped during the third quarter to 40.4 million units versus 47.5 million units sold in the same quarter last year. A report published in Motley Fool suggests that investor expectations are low for the iPhone 7.
Apple Inc. is likely to launch the iPhone 8 on the iPhone’s 10-year anniversary in 2017. Some analysts fear that customers will skip the iPhone 7 and wait for the iPhone 8. It has been speculated that the iPhone maker will give the iPhone 8 a makeover, and the device may come with virtual and augmented reality technology. Reports also say that the model could be equipped with an OLED screen, long-range wireless charging and even an all-glass body.
The iPhone 7 won’t be “revolutionary,” according to an article published in Los Angeles Times. Daniel Ives, senior vice president of corporate development at Synchronoss Technologies, was quoted as saying that the industry wants to know “whether this upgrade cycle will offer enough features and functionality to get consumers to go to the next version of the iPhone.”
Tim Long, analyst at BMO Capital Markets, said that the iPhone 7 will be welcomed by customers. The analyst believes that the new iPhone will help the company boost its sales. He noted that 25% of existing iPhone users are now looking for an upgrade, and they are likely to buy the iPhone 7.
Analysts at Credit Suisse believe that the iPhone 7 will be overshadowed by an iPhone 8 “super cycle” in late next year.
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