Apple Inc. (NASDAQ:AAPL) is expected to unveil its iPhone 8 at a product announcement on 12 September, reassuring investors and customers that the device is on track despite rumours of delays.
At the launch event the tech giant is likely to showcase three new iPhones, including updates to two iPhone 7 models and a premium version to mark the device’s 10th anniversary, the Wall Street Journal reported.
In early New York trading, Apple shares were fairly sanguine about the reports, slipping back 0.1% to US$161.30 as the market took a tumble.
READ: Apple seems to play down iPhone 8 delay rumours with positive outlook on final quarter
The iPhone 8 is said to feature an edge-to-edge display and facial-recognition technology.
Apple usually starts selling new iPhones about 10 days after unveiling them, meaning the device will be released well ahead of the critical holiday season.
In recent months, Apple has been plagued by reports that its new iPhone could be delayed due to supply chain issues.
While the expected launch date would be roughly consistent with previous iPhone releases, production issues could still possibly impact sales of the new handsets.
New venue for iPhone launch
Sources told the WSJ that the company is planning to launch the new iPhone at the Steve Jobs theatre that it is building on its new headquarters in California.
READ: A bird’s-eye view of Apple’s new US$5bn ‘spaceship’ headquarters
San Francisco’s Bill Graham Civic Auditorium has been used to unveil new iPhones in the past two years.
Apple also is expected to unveil a new Apple Watch at the product launch. The smartwatch is rumoured to include a LTE cellular chip that allows it to pull data directly from wireless services rather than relying on the iPhone to transmit emails, texts and calls.
iPhone 8 may lift Apple's market value
Many analysts see the launch of the iPhone 8 as providing a boost to Apple’s market value as the premium model will raise average selling prices. The starting price of the 10th anniversary phone is expected to be US$1,000, which would be 50% more than the base price of the current iPhone. Higher memory versions are said to be priced at about US$1,400.
In a note to investors last month, RBC Capital said Apple is set to become the first company to reach a US$1trn market capitalisation as it sees upside to the release of the new phone.
READ: Apple to become first company to reach US$1trn market capitalisation, RBC Capital says
Apple has a current market capitalisation of US$834bn.
Morgan Stanley analyst Katy Huberty said investors will be focusing on how well the new iPhone performs in China where Apple has been losing market share to domestic low-price rivals including Huawei Technologies Co. and BBK Electronics Corp. In the third quarter, revenue in China fell 10% year-on-year.
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