Crunch day arrives for Apple with $1,000 iPhone set to be revealed
2016 saw the tech firm's first fall in sales of the smartphone
Investors cautious as pricy device may switch some buyers off
Ten years ago Apple released the very first iPhone, marking the start of a steep upward journey for both the device and the company which would change the tech industry.
On Tuesday, the US tech giant will break a new barrier, one which may prove a step too far for some iPhone fans and is a risky move according to several experts.
Apple is widely expected to release the iPhone X following a substantial leak this week, with the jury out as to whether the source of the new details originated from right inside the company’s San Cupertino headquarters.
As per the leaked information this week, the new generation of the iPhone is expected to make a fairly hefty four-figure hole in prospective buyers’ pockets when it becomes available for sale at around $1,000.
Apple has often banked on the loyalty of its customers, a policy which has coincided with the perpetual rise in the company's shares on Wall Street in recent years, but some analysts believe there is a major risk of discouraging customers with high prices.
Neil Wilson from ETX Capital said: "We note a potential risk if the new devices are priced too highly for customers to upgrade."
"If as anticipated it is priced around $1,000, the entry point is high and will make it more expensive than the MacBook Air. This will undoubtedly test some consumers’ willingness to upgrade," Wilson added.
In 2016, Apple recorded its first-ever fall in annual sales of its flagship smartphone, something that CEO Tim Cook will be hoping to reverse when he reveals the latest offering in Apple Park at around 18:00 BST.
Hype surrounding the now yearly launch has reached fever pitch as Apple aims to drive interest in the device and beat off stiff competition from an increasingly saturated smartphone market.
Innovation has been one of the key success factors of the iPhone during its history, but some have suggested that there may be a distinct lack of new tech involved in the latest release.
"In the ten years since the iPhone first launched, many of the innovative features which it first brought to the market are longer unique and several of those rumoured to be on the iPhone X are already in existence; notably, the device being water resistant or having facial recognition software," commented Jordan Hiscott from Ayondo Markets.
Hiscott added that while there was a risk of dampened enthusiasm for the new iPhone, it is unlikely to materialise.
"It’s worth noting that Apple now appears to be positioning itself in the high-end/premium market, breaking with the tradition of trying to compete with the mass market deals of Android," he said.
Apple is also set to announce updates to several of its other products, including the Apple Watch and a new 4K Apple TV.
All eyes will be on Cook however this evening as he celebrates a decade of the iPhone, as investors aim to toast further success for the hugely profitable tech outfit.