Apple has launched the iPhone 12 with faster 5G connectivity starting which the California company hopes will spur a wave of upgrades and keep its sales booming through the end of the year.
The annual launch event is nearly one month later than normal and comes as the coronavirus pandemic has disrupted Apple's well-oiled machine for designing and churning out its biggest-selling product. But Apple is in a delicate position of needing to excite consumers with 5G without setting them up for a disappointment: For many of its fans, it will be their first experience with 5G networks, which in the United States remain years away from delivering dramatic speed boosts for most consumers. Some analysts worry Apple will be selling a high-powered sports car while its customers remain confined to sleepy village roadways.Shares of Apple fell 2.
In July at its most recent earnings, the company posted year-on-year revenue gains across every category and in every geography as consumers working and learning from home during the COVID-19 pandemic turned to its products and services.