Sat, Sep 01, 2018 - Page 10 News List

Apple announces ‘event’ as Web site leaks designs

YEARLY TRADITION:Warren Buffett said his firm has been raising its stake in Apple, which now exceeds 5%, ahead of an expected unveiling of the brand’s new smartphones

Reuters

Apple Inc on Thursday said it would host an event on Sept. 12 at the Steve Jobs Theater on the company’s Cupertino, California, campus, where it is widely expected to unveil new iPhone models.

Analysts believe that Apple plans to release three new smartphones this year, including one with a larger display than previous models.

Analysts also expect Apple to release an iPhone with an edge-to-edge display similar to the iPhone X, but using less costly LCD screen technology.

Apple’s event invitation made heavy use of the color gold, fueling speculation on social media that the company plans to launch a gold-colored successor to the iPhone X, which was made available only in silver and gray last year.

Documents filed at the US Federal Communications Commission unsealed earlier this year showed that Apple had sought approval for a gold version of its iPhone X, but it never released the color.

A few hours after Apple’s announcement, 9to5Mac, a technology Web site, posted photographs of two gold iPhone models stacked on top each other, with a larger-screened model on the bottom. Both models resemble the current iPhone X.

The Web site said the new flagship model is to be called the iPhone XS and that Apple also plans to release a new version of the Apple Watch with a larger display by reducing the edges around it.

9to5Mac told Reuters that the photographs were not mockups and represented Apple’s actual planned products, but declined to say how it had obtained them.

Apple did not respond to requests for comment about the authenticity of the photographs.

The company has for years released its new phone models in the second week of September and often updates other product lines, such as the Apple Watch, at the event.

Apple typically starts selling new iPhones a few weeks after launching them, in time for the holiday shopping season. The iPhone X, priced at US$999 and up in the US, has helped Apple beat Wall Street sales expectations.

Speaking on Thursday to CNBC, investor Warren Buffett said that the iPhone is “enormously underpriced” even when it costs US$1,000, given how indispensable it has become for so many people.

The Berkshire Hathaway Inc chairman and chief executive officer said that his firm has been piling more money into Apple, increasing its stake to 252 million shares as of June 30.

The investment is worth more than US$50 billion and makes Berkshire the third-biggest shareholder in Apple, with a stake of more than 5 percent, data compiled by Bloomberg showed.

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