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Apple Inc unveiled its latest line of iPhones, a product line that Wall Street hopes will kick off a new cycle of sales growth for the world’s largest technology company.
At a virtual event on Tuesday, the company displayed the iPhone 12 in black, red, blue, green and white. The new model comes with a 6.1-inch screen and is thinner and lighter, Apple said.
The front of the phone looks similar to last year’s iPhone 11, but the aluminum edges are now flat instead of curved. All of Apple’s new iPhones this year support 5G, a new wireless standard that can transmit data up to 10 times faster than current 4G LTE technology.
The phones also have a faster A14 processor and updated cameras and use sharper OLED screens, an upgrade from last year’s cheaper LCD screens, Apple said.
The Cupertino, California-based tech giant has generated relatively little growth in sales of its flagship product in recent years as consumers hold onto their phones for longer.
Quarterly revenue for this segment peaked in Apple’s first quarter of fiscal 2018.
This year’s crop of new iPhones marks the first major redesign in three years, which could lead to more updates and a new spurt of growth. Investors and analysts are also optimistic about sales in China, where 5G networks are more developed than in the US.
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