Why Apple is the iPhone’s biggest threat
Apple is poised to make its first foray into the world of smartphones with its newest smartphone, the iPhone X, according to a report published Tuesday.
Apple said in its quarterly earnings report that it expects the new iPhone to sell more than 6 million units worldwide by the end of the year, up from 6 million during the same quarter last year.
Apple’s revenue grew 12 percent in the second quarter, compared with the same period last year, and it posted revenue growth of more than 30 percent, or $1.1 billion.
It also saw a 25 percent increase in its cost of revenue, which includes all costs including shipping and handling.
Apple also reported a 27 percent drop in its profit, which was down from a record high of $19.5 billion in the third quarter.
The company also said its profit in the U.S. dropped 4 percent, but revenue grew by more than 9 percent.
“It’s an incredible amount of growth,” said Robert Iger, Apple’s CEO.
“We’re on the cusp of what we hope is the beginning of a long-term turnaround for Apple, one that will result in a new iPhone.”
Iger said the company was investing heavily in hardware to help it meet demand for the new phones, including a $1,000 upgrade fee for new iPhones and a $5 discount for existing iPhone customers.
Apple says the new iPhones are the fastest and most powerful devices ever made.
“In terms of technology, we have the fastest phones ever made,” Iger told analysts.
“That’s a fact.
It’s an amazing feat, and I think that’s why people are excited.”
The iPhone X has an edge over other iPhones by offering a 5.8-inch display, upfrom the 5.7-inch iPhone 8 and 8 Plus that were released earlier this year.
The new iPhones also have the first-ever wireless charging, a new fingerprint sensor, a higher-resolution camera, and an Apple Pencil stylus that allows for handwritten messages.
The iPhone 8 Plus, which Apple released last year with a more powerful processor and a larger screen, is also getting a new screen size, but it’s not as wide as the iPhone 8.
The latest iPhone models have a 10.1-inch screen and a new camera that includes a 1.7 megapixel front-facing camera and a 16 megapixel rear-facing one.
Apple has also said it plans to introduce a new “universal” display in the next few years, which will be smaller and lighter than the existing iPhone 7 models.
It is expected to have a smaller bezel and be able to use larger screens.
The smartphone is expected by analysts to sell about 20 million units by the time it launches in November, according with estimates from Strategy Analytics.
Apple was the first company to introduce the iPhone in the fall of 2010.
Its flagship device, the original iPhone, sold about 11 million units.
The company’s stock has been down nearly 35 percent this year, compared to a 16.3 percent gain in the year-ago period.