Apple, a multi billion dollar industry that sells smartphones, tablets, watches and laptops, just previewed their newest device: The iPhone XS.
The lastest new smartphone is selling for a whopping one thousand one hundred dollars (one thousand one hundred is the starting price, and one of the higher prices is about one thousand five hundred dollars for the larger model). It seems that whenever Apple releases a new product people are enthusiastic and eagerly trade in their current device for the newest model. But this time Apple is testing just how much dough people will cough up, analytics actually predicted that when the new smartphone was released last year people would purchase more than they actually did.
Although iPhone XS already sees more sales than the iPhone X through pre-order, some people may be reluctant to purchase this particular phone because its so costly. To help combat this problem of the new model being expensive Apple is offering the iPhone XR, a less expensive option starting at seven hundred and fifty dollars. This option is made with less expensive materials and is expected to arrive on October 26th. Apple is showcasing their new products next Wednesday in Cupertino, California.
The release of Apple’s newest iPhone will definitely affect our economy since the majority of Apple fans will be rushing out to get their hands on this smartphone. While the article doesn’t state exactly how many iPhone XR’s and XS’s are being manufactured it’s obviously not an infinite amount. Like we learned in class about diamonds and water, if there is a never ending stream of new iPhones they would be sold for a lot less. And if Apple made a smaller first batch of their new product to sell, they could probably get much more than it is going for now, since there is such a limited number. Apple releasing this is important to know about because it impact society as a consumer. Whenever Apple comes out with a new model, the old ones undergo a price reduction since they aren’t the latest and greatest. So if you were really excited about the iPhone X last year, when the iPhone XR and XS are released now is your chance to get it at a lower price.
Since Apple releases a new model of their products like clockwork, it’s not much of a shock. But it is interesting to see how technology has evolved each year within their company, just compare the first iPhone model they sold to the iPhone XR and you can see how far they have come. This event doesn’t really affect me because I have no intention of purchasing a new phone, mine still works fine and I don’t see the need to replace it. While Apple may not be a huge factor in my life, it is a big part of the economy. It is estimated that roughly twenty thousand jobs will be created at Apple over the next five years. Basically if Apple were to suddenly go bankrupt and lose everything, it would undoubtedly create an uproar in the market and economy since there is an enormous amount of money in this company. In the US alone there are about forty seven thousand people working for Apple. While the new iPhone is predicted to surpass last years sale, which isn’t surprising considering how loyal users are to Apple, the yearly release of new products will create a blip in the market.
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