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Apple shares turn negative on later-than-expected iPhone X shipping date

Apple’s brand new iPhone X is set to cost $999, however won’t ship until November. This was revealed at an event yesterday, which tested both price sensitivity and and the patience of its customers.

The complexity of manufacturing brand new screens and cameras inside what’s named by analysts as the “super premium” is predicted to be delayed.

New iPhones usually go on sale at the end of September.

Shares in the value company gave up their earlier gains and plummeted by 1 per cent following a later-than-expected launch was revealed.

Apple chief executive Tim Cook billed the new iPhone X as “the biggest leap forward since the original iPhone”, whilst he revealed three new models of smartphone.

Apple is getting rid of the home button with the new iPhone X. The button is normally sat at the bottom of the device, and has been placed their since the first one was released in 2007.

The new iPhone X will “set the path of technology for the next decade,” Mr Cook said. He showed off an OLED screen which runs up the edge of the phone.

As well as the premium-priced iPhone, during the event Apple released two new standard iPhone 8 models. They both have improved cameras which displays processors.

“The iPhone X and iPhone 8 models are very strong additions to Apple’s portfolio that address increasing competition from Samsung and others,” said Ben Wood, analysts at CCS Insight. “Rivals will be watching how quickly Apple can meet demand for the iPhone X and begin to build margins on a new design with new components.”

Pre-orders of the iPhone X is set to begin at the end of October, and the first handsets are planned to ship to customers on November 3rd.

During the event, Apple also unveiled updates to its TV box, which has an added 4k resolution, and its watch, which features cellular wireless connectivity.

Contact one of our brokers today at, www.forex.ltd.uk.

Written by Abi Moses


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