Apple Inc. has packed its new-model, top of the line iPhone with augmented reality (AR) features, betting the nascent technology will persuade consumers to pay premium prices for its products even as cheaper alternatives abound.
The iPhone X — Apple's most expensive phone ever, priced at $1,000 (¥110,000) — was one of three new models Chief Executive Officer Tim Cook showed off Tuesday during an event at the company's new $5 billion headquarters in Cupertino, California. It also rolled out an updated Apple Watch with a cellular connection, and an Apple TV set-top box that supports higher-definition video.
The event marked the 10th anniversary of the original iPhone, and started by remembering the late co-founder Steve Jobs. The product announcements were greeted with enthusiasm but little surprise by analysts, investors and fans of the company's products. The Watch capabilities pushed Apple shares up more than 1 percent, but the iPhone X had few ground-breaking features that weren't already telegraphed, and the stock gave up those gains to end the day down 0.4 percent at $160.86.