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Apple debuts $4.99 streaming service, camera-focused iPhones

Apple Inc. showcased a trio of iPhones with advanced camera features, a new Apple Watch and iPad, as well as updates to its upcoming services offerings at a Sept. 10 press event that largely met analysts' expectations.

At its annual fall product release event, the tech giant unveiled the iPhone 11, iPhone 11 Pro and iPhone 11 Pro Max models that come equipped with a completely redesigned camera system and are powered by a new, faster A13 bionic chip. A new entry-level iPad and Apple Watch were also introduced, which offer more advanced capabilities than their predecessors.

New iPhones

The iPhone 11, starting at $699, has a 6.1-inch liquid retina display and a new dual-camera system that includes wide and ultra-wide lenses, allowing users to "capture way more without moving," Kaiann Drance, Apple's senior director of product management and marketing for the iPhone, said at the Sept. 10 event.

The iPhone 11 Pro and iPhone 11 Pro Max come in two sizes, 5.8 inches and 6.5 inches, and have a new triple camera system, which includes a wide camera and ultra-wide camera, as well as a telephoto camera that allows for more advanced zooming capabilities. All three new iPhones come with "Night Mode" to adjust to dark conditions.

The iPhone 11 Pro will retail for $999, while the iPhone 11 Pro Max will cost $1,099. The iPhone 11 lineup will be available for preorder Sept. 13 and in stores Sept. 20.

Gene Munster, managing partner at venture capital firm Loup Ventures, said in a tweet that the strong camera focus of the new iPhones highlights the growing importance of cameras for the overall smartphone experience.

"People always want to take better pictures, so pushing the edge on photo features [is] needed to maintain user satisfaction," Munster wrote.

SNL ImageApple series "The Morning Show"
Source: Apple

Apple TV+

More details around the highly anticipated Apple TV+ subscription streaming service were also provided.

Apple TV+, which features exclusive original video content from various A-list celebrities, will debut Nov. 1, retailing at $4.99 per month. Consumers that buy an iPhone, iPad, Mac or Apple TV will have access to Apple TV+ for one year for free, Apple CEO Tim Cook said.

Wedbush Securities technology analyst Daniel Ives said in a research report that the pricing of Apple TV+ is a "show stopper" and poses a "major" threat to the likes of Netflix Inc. and The Walt Disney Co. Disney is set to launch its Disney+ streaming service Nov. 12 for $6.99 per month, or for $69.99 for the full year. Netflix's monthly streaming fees range from $8.99 to $15.99.

"The Street was anticipating a $7.99-$9.99 price point," Ives wrote, adding that Apple is "looking for market share coming out of the gates with these surprising price points that we loudly applaud."

Apple Watch

The company said the Apple Watch Series 5 will be available in stores Sept. 20 and pricing will start at $399.

The new device features a new "always-on retina display," so that the screen display is always visible.

Other features include a built-in compass and international emergency calling.

Entry-level iPad

Apple debuted an entry-level iPad, which retails at $329 and will start shipping at the end of September.

The device has a 10.2-inch screen and has support for Apple Pencil, which allows customers to mark up and send entire webpages or documents by swiping the pencil from the bottom corner of the screen.

Apple Arcade

The company revealed that Apple Arcade, its first gaming subscription service, will be available Sept. 19.

It will retail at $4.99 per month in over 150 countries.

Street's response

Apple's shares ended the Sept. 10 trading session up about 1%, at $216.70 apiece.