Apple expected to reveal new iPhone model amid sales slump

Cupertino: Apple is gearing up for its annual late summer tradition of unveiling the next generation of iPhones as it seeks to reverse a recent sales decline.

The event, taking place at Apple's Cupertino, California headquarters, comes as the tech giant faces a sales slump that has seen revenues drop year-over-year for three consecutive quarters. Apple has also signaled another potential downturn for the current quarter leading up to the release of the iPhone 15 lineup.

This slide-in performance has been a major factor behind Apple's stock price dipping by nearly 10% since mid-July, pushing the company's market value below the $3 trillion threshold it recently crossed.

The new iPhone 15 models aren't expected to introduce groundbreaking technological innovations, aligning with a trend seen across the smartphone industry. Instead, the upcoming devices will likely feature incremental improvements in areas such as the device's chips, battery, and camera capabilities.

Reports suggest that Apple may redesign the basic iPhone 15 models to incorporate a shape-shifting cutout on the display screen, referred to as the "Dynamic Island," which provides notifications for apps. This design element was first introduced with last year's Pro and Pro Max devices.

One of the most significant anticipated changes is Apple's move toward the USB-C cable standard for charging the iPhone 15 and future generations. This change is being driven by a mandate from European regulators scheduled for 2024, which forces Apple to phase out its proprietary Lightning port cables introduced in 2012 with the iPhone 5.

It's uncertain whether Apple will implement the transition to USB-C ports exclusively for European models or implement the change worldwide. Regardless, the shift is unlikely to be overly inconvenient for consumers, as USB-C cables are already widely used across various devices due to their faster charging speeds and data transfer capabilities.

In addition to the new iPhones, Apple typically introduces its next generation of smartwatches during this annual event. The unveiling of the new iPhones also sets the stage for the release of iOS 17, the next version of the operating system that powers these devices. iOS 17 will feature new functions, including real-time voicemail transcription and the option to answer a call during a voicemail message.

Apple's product announcements will be closely watched not only for their impact on the tech giant's financial performance but also for the potential to influence the broader smartphone and technology market.