Tepid reaction for Apple's new iPhones in China amid tough competition

Apple's planning to add more shows and films each month, and says certain shows kicking off its Apple TV+ service will premiere with three episodes and release a new one each week, while other series will be made available all at once. Apple is expected to introduce upgrades for its current high-end iPhones, the XS and XS Max, and a new version of its lower-priced smartphone. Apple, with a market cap of $967.87 billion, was trading around $214 per share during late afternoon trading on Tuesday.

Apple's promised streaming television service - dubbed TV+ - will launch internationally on November 1.

The price for the video service is almost half of what many analysts had predicted and well below competing offerings from Netflix and Amazon Prime.

Counterpoint analyst Neil Shah said the entry price, while lowered by Apple, remains high compared to local rivals. And more competition is coming, with Disney and WarnerMedia offering their services later this year or next. Pricing starts at $999 and $1,099 for the iPhone 11 Pro and Pro Max, respectively. A new video-game streaming service, Apple Arcade, will also cost $5.99 a month in Canada.

The newly announced iPhone 11 comes in six colors and boasts two cameras and longer battery life. But it has been years since the company has had a major hit with a new device, as it did with the iPhone in 2007.

In addition to the iPhone 11, Apple announced the iPhone 11 Pro, which is being touted as "the most advanced and detailed iPhone yet", with a three-lens "pro" camera system, more energy efficiency and spatial audio sound.

Yesterday, Apple launched the brand new iPhone 11, iPhone 11 Pro, and iPhone 11 Pro Max at an event held in the company's Steve Jobs Theatre in Cupertino, California, and we now have the India pricing for these iPhones.

Other products are getting only minor updates, such as an iPad with a larger screen.

Apple Watch Series 5 had a starting price of USD399 and was set to be available starting September 20. Tuesday's event revealed more details about those services, including Apple Arcade, a subscription service announced in March 2019 that will provide access to exclusive mobile games. Apple also dropped the price of last year's equivalent model iPhone XR by $150.

As device sales have fallen in recent years, Apple has placed more of an emphasis on new services such as Apple TV+, the company's answer to streaming platforms such as Netflix and Hulu.

Earlier in the week some observers had predicted Apple could get a significant bump in sales this year from its slate of new iPhones, given that numerous company's roughly 900 million existing iPhone users are primed for an upgrade, with phones that are, on average, five years old. Combined with the lack of 5G, that made the new iPhones "less attractive and future-proof" for Chinese consumers, Shah said, forecasting that Apple will sell 30-35 million iPhones in China this year, down from 63 million phones in 2015.

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