Apple Hosting Event For iPhone Update Amidst Worries
Apple has recently launched the fifth generation of the iPhone. The company will now be revealing its latest take on its innovative device. The company will be doing so during an annual event that will shed some light onto the drive of the gadget maker to boost its sluggish pace of development and also of regaining market share that it has lost to competitors. However, the company is sticking to its tight-lipped ways and hasn’t revealed the agenda for the coming-out party of the rumored device that will take place on 11th of September at the company’s headquarters. Nonetheless, it is the tradition of the iPhone maker of showing off the latest generation of its device at this time of the year. This device has reshaped the way people made use of computers since it debuted in 2007.
It was last September that the company launched the iPhone 5 and it has never waited thing long for bringing updates to its device. The device has managed to generate about $88 billion revenue in the complete year. Many investors have become vexed with the timetable that the smartphone giant is following for rolling out its products and they have been watching its growth and profit margins decline gradually. In the meantime, a bevy of devices is being released by other smartphone markets that are operating on the Android Operating system of Google.
They continue to load the market with new devices that are cheaper than the iPhone. Apple’s stock price is reflecting the concerns of the investors as it has decreased by 30% after achieving a peak of $705.07 at this very time of last year when the iPhone 5 had gone to sale. The market value of the company, which is around $460 billion, may be more than any other company in the market. However, its declining stock price means that pressure is increasing for Tim Cook, the current CEO of the company to proof that he is well-suited to leading the company.
Since he became CEO two years back, he has only introduced new versions of products that had been launched by the co-founder Steve Jobs. Cook has said that the company is working on some amazing products, one of which is rumored to be the ‘SmartWatch’ that’s basically a wrist-bound smartphone. However, other companies like Samsung and Sony have already released their own watches. The update of the iPhone line may address some of the company’s woes, along with the cheap iPhone that the company is said to be working on.