Will consumers shell out $999 for an iPhone?

iPhone X Closes Apple Event with Super Retina OLED Display and Face ID

Apple chief executive Tim Cook announced the premium iPhone X - pronounced 10 - as well as a new iPhone 8 and 8 Plus.

But, hey, if you do want to keep your Anastasia contour palette, please, for the love of god, remember to blend.

The Guardian reports that the 8 boasts faster shooting capabilities and a "new image signal processor - the brains behind the camera - with noise reduction and faster low-light autofocus".

But it's a completely new feature on both the 8 Plus and the X that has selfie enthusiasts everywhere rejoicing. And no, it's not the same as the iPhone 7's Portrait Mode - it's so much better.

Investment Case We have an overweight recommendation on Apple with a price target of $166. The new iPhone 8 is equipped with a 5.5 inch Retina HD display that has a resolution of 1920 x 1080 pixels and 401 pixels per inch. The TrueDepth camera is claimed to ID users in the dark, or change of hairstyles and facial hair. For now, Apple recommends customers check out wireless charging solutions from Belkin and Mophie.

Editor's Note: A previous version of this story said that portrait lighting and portrait mode would be available on both the iPhone 8 and the iPhone 8 Plus. Instead of Touch ID, the 3D face recognition technology enables Face ID where users unlock their phones with and proceed with transactions using their Apple Pay.

iPhone X. Image source: Apple.

Available in 64GB and 256GB capacities, the iPhone 8 and iPhone 8 Plus start from $1,148 and $1,308 respectively.

Unveiled at the spanking new ApplePark campus in Cupertino, California, the launch also comes with other goodies such as the Apple Watch 3 and the wireless AirPower charger - a charging pad that allows users to charge their iPhone, Apple Watch and even AirPod headphones all at once. At $999, the iPhone X will cost $42 a month over two years.

Tuesday's Apple Event concluded with one final announcement.

Users can pre-order the Apple Watch Series 3 starting September 15, whereas the shipping will start from September 22.

The iPhone X price for the Indian market has been set as Rs. 89,000 for the 64GB option.

People spend more than four hours a day on their phones, according to comScore. The iPhone X, however, will get a later start. The Apple Watch Series 3 will be made available in two versions- with cellular and without cellular.

Apple's new Apple TV and Apple Watch will help strengthen the company's rapidly growing "other products" segment, which accounts for about 6% of Apple's overall revenue. The edge-to-edge screen also means there is no room for a home button, an iconic innovation of the original iPhone that set it apart from many competitors at the time.

Apple is a platform deserving to trade on a higher valuation than it is at this point in time.

The bottom line for investors?

Related News: