By Yasin Ebrahim
Investing.com -- Apple unveiled the iPhone 15 and new Apple Watch Series 9 on Tuesday, boasting improved connectivity, faster chips, and USB-C charging. The tech giant kept the price of its higher-end iPhone Pro model unchanged from last year, despite Wall Street expectations that the newer technology and features would warrant a modest price hike.
Apple Inc (NASDAQ:AAPL) fell nearly 2% in recent trading.
The new iPhone, which comes in two sizes, 6.1 inches for iPhone 15 and 6.7 inches for iPhone 15 Plus, is expected to spark a wave of upgrades from customers that are still sticking onto older models like the iPhone 11.
The new smartphone also sports a display twice as bright as iPhone 14 and an improved 48-megapixel main camera, the company said. The iPhone 15 will be powered by its A16 bionic chip - that was introduced on iPhone 14 Pro - and also the second-generation ultra wideband chip, allowing the iPhone 15 to connect to other devices from up to three times farther away, Apple said.
The iPhone 15 Pro, meanwhile, includes a new generation Apple A17 chip including a breakthrough new GPU to improve speed, performance and efficiency. The more advanced model also will allow users to capture three-dimensional spatial video and a camera with an even larger sensor than iPhone 15.
No price hike for iPhone Pro model amid China demand concerns
The base model iPhone 15 phone will start at $799, while the iPhone 15 Plus will start at $899. Participating wireless carriers will offer up to $800 off for qualifying trade-ins.
The iPhone 15 Pro starts at $999 and the Pro Max starts at $1,199, which is up from $1,099 last year, but comes with 256 gigabytes of memory. All three iPhone models will be available Sept. 22.
The low-end and high-end prices remains unchanged from last year, which could come as surprise to some on Wall Street who had been hoping that Apple would lift the prices for the Pro and Pro Max models.
"Importantly, we expect a $100 price increase on the iPhone 15 Pro and iPhone 15 Pro Max model for the first price increases from Cupertino in years," Wedbush said in a note ahead of the Apple event.
"[T]he enhanced technology, chips, and battery technology in iPhone 15 Pro/Max warrants this strategic pricing move from Apple," Wedbush added.
The new iPhone comes in the wake of concerns about demand in China after Beijing recently prohibited government employees at state-owned businesses from using foreign devices including iPhones.
New Apple watch powered by snappy S9 Chip, 'Double Tap' Gesture
Apple also unveiled a new Apple watch series 9, powered by Apple’s new S9 watch chip, boosting animation, visual effects, and speed, and maintaining 18-hour battery life.
The new watch also features a new gesture ‘Double Tap’ – activated by tapping your index finger and thumb together twice - that controls the primary button, allowing users to answer and end calls, stop timer, play and pause music of even snooze an alarm. The new watch also features an wideband chip helps you easily users easily find their iPhones.
The company also launched Apple Watch Ultra 2 that also includes Apple’s new S9 chip, featuring a bigger display, an expanded altitude range
The Apple Watch SE starts at $249, the new Series 9 starts at $399, and the Apple Watch Ultra 2 is priced at $799. The new Apple Watch will be available on Sept. 22.