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Apple Unveils Two New iPhone Versions

Published By: The Retail Report
This past Tuesday, Apple announced two versions of the iPhone: an updated model of its high-end model, and a new, more inexpensive model. CEO Tim Cook introduced the iPhone 5s, which will replace the iPhone 5. Additionally, the iPhone 5c will roll out later this month as an option for a younger, less affluent market. It is priced at $99 for an entry-level model in the U.S. with a two-year wireless service contract.

The iPhone 5s comes in black, white, or gold, and basically looks like its predecessor, the iPhone 5. Notable internal differences include an improved A7 processor, a camera with improved flash and more features, and a fingerprint scanner for security. Pricing begins at $199 for 16 GB of storage with a wireless contract, $199 for 32 GB, and $399 for 64 GB.

The iPhone 5c sheds the aluminum case worn by the iPhone 5s in favor of a plastic, customizable shell. Users can choose from five colors: blue, green, pink, yellow, and white. With a contract, this model will be available for $99 with 16 GB of storage or $199 for 32 GB.

Although the phones will not be available until September 20, investors seemed unimpressed by the announcements, with stock that dropped nearly three percent. However, not all investors backed away from Apple; billionaire investor Carl Icahn said he bought “quite a bit” of shares as the stock fell. Icahn told CNBC that adding to his Apple holding was a “no brainer” because “it’s just extremely cheap… They’re one of the best brands. They are building revenue.”

Apple will roll out the latest version of its mobile software, iOS 7, before releasing the new phones.


[Washington Post]

[LA Times]

Release Date09/12/2013 - 07:00


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