Apple Inc. (NASDAQ:AAPL) has sent invitations for its Sept. 9 event that will be held in San Francisco, where the company is anticipated to roll out its new version of iPhone, a latest Apple TV set-top box along with some other updated products.
The event is scheduled to start at 10 a.m. The launch of a new iPhone is the most vital annual product release for the company’s business. The phone, first revealed by Steve Jobs nearly 9 years ago in San Francisco, produced revenue of $31.4 billion in the previous quarter, representing 63 percent of AAPL’s sales.
The new smartphone will appear similar to the existing iPhone 6 versions, offering screens of 4.7-inch and 5.5-inch, with faster processor and enhanced camera, according to Bloomberg, citing people with the knowledge of the plan. Apple is also expected to introduce a new feature named Force Touch in the new iPhone that will enable customers to navigate through features by clicking and holding the screen. Force Touch was first incorporated in the Apple Watch.
The iPhone maker may also issue an update for Apple TV, which act as a gateway for online video streaming from HBO, iTunes, and Netflix, as well as other providers. Apple TV was first launched by Jobs on the same day as the iPhone back in 2007, however AAPL hasn’t updated the device in many years. The competition in the market has intensified, with Amazon’s Fire TV, Roku Inc., and Google’s Chromecast all providing customers access to similar content.
The upcoming event will give an opportunity to CEO Tim Cook to alleviate the concerns of investors, who are questioning the company’s growth, especially in China, where the economy is growing very slowly.
AAPL shares are roughly 14 percent down since 21st of July, when it announced some financial results that missed consensus forecast.