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Aug 30, 2018

Apple to unveil revamped iPhones at Sept. 12 event

Apple CEO Tim Cook, announces the new iPhone X at the Steve Jobs Theater on the new Apple campus

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Apple Inc. (AAPL.O) set Sept. 12 as its most important day of the year when the world’s most valuable public company will unveil the next iPhones.

The event will be held in Cupertino, Calif., at the Steve Jobs Theater on the company’s Apple Park campus, according Apple’s website. "Gather Round," the invite said, likely referring to the shape of the theater and its campus.

The company will unveil its renewed iPhone strategy at the event. It’s planning three new models that look like the iPhone X, including a refresh to the flagship device, a larger premium model, and a larger, cheaper model that comes in different colors. All three devices will have facial recognition and edge-to-edge screens like the iPhone X, but the two premium models will have OLED screens, while the cheaper phone will use LCD technology, Bloomberg News has reported.

The iPhone accounts for about two-thirds of the company’s revenue, and serves as a hub for Apple Watches, AirPods, and services like the App Store and Apple Music, which generate most of Apple’s other sales.

Last quarter, the iPhone generated almost US$30 billion in sales. Apple will collect more than US$61 billion in revenue in the September quarter, the period when the new iPhones are likely to go on sale, according to data on analysts’ estimates compiled by Bloomberg.