By Nick Turner
Apple Inc.’s annual iPhone unveiling is always its most momentous time of the year — a chance to impress consumers with the company’s latest model and set up the holiday selling season.
But Apple has more than usual riding on the new iPhone 15 lineup, which will be introduced Tuesday at 10 a.m. California time. The tech titan is looking to snap several straight quarters of sluggish sales — its longest slump in two decades — and get consumers excited about upgrading again with new features.
Apple is contending with an industrywide slowdown in smartphone demand and fears of a backlash against US-branded technology in China, its largest international market. And the latest iPhone will switch to the USB-C charging standard, potentially irking consumers who have drawers full of Lightning accessories.
Apple also just renewed a contract to get modem chips from Qualcomm Inc., a sign that an effort to build its own components is taking longer than expected.
But the company has several things going in its favor, including an iPhone with enticing new capabilities. And demand for the product has held up better than that of its Android peers. Apple also has successfully shifted more consumers to higher-end models, helping it charge heftier prices.
1. Apple’s Flagship Product
2. A Sales Slump
The entire smartphone industry has been in a funk, and Apple hasn’t been immune. Slow sales of the iPhone dragged down its overall revenue, which is poised to fall this year for the first time since 2019.
3. More Upscale iPhones
4. Outperforming Peers
5. China Concerns
Apple has seen this scenario before. It suffered a weak stretch in China in fiscal 2019 after a nationalist spirit swept the country. But demand ultimately bounced back. Investors will be watching holiday sales closely to see if Apple can weather the challenge this time around.