Brace yourselves! Apple Inc.(NASDAQ:AAPL) is all set to launch the latest version of the iPhone on September 12, Bloomberg News as well as Reuters reported on Tuesday, quoting two unidentified people.
Speculation over the launch of Apple's new phone with a revamp in its design has been getting rife in recent weeks, with most observers expecting the launch to take place sometime in September.
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Apple's last version of the product, iPhone 4S, is eating into the market share of Google's Android-based smartphones and the buzz is that the new phone will have a design overhaul - with a thinner body and a larger display.
The revamped phone is also expected to work with faster long-term evolution wireless networks being introduced by carriers such as Verizon Communications Inc.(NYSE:VZ) and AT&T Inc.(NYSE:T), Bloomberg said quoting analysts.
The iPhone is getting a design overhaul after a long time since there was not much difference between the iPhone 4S and the previous version.
iPhone is one of the company’s best-selling products accounting for 46 percent of its total sales in the June quarter.
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Apple is also trying to wrest the leadership status in the smartphone segment that it lost to Samsung Electronics earlier this year and the latest version of the iPhone might just do the trick.
Unlike Samsung and Nokia Corporation (ADR)(NYSE:NOK) , which have frequent launches of smartphones throughout the year, Apple confines itself to just a launch a year and has consistently stuck with upgrading sole product, the iPhone.
Shares of AAPL are up another 0.90% to $616.35 in the pre-open session after soaring over 2% in the prior session. Apple's shares have risen 47 percent so far this year.