New iPhone due on 10 September

NEW YORK CITY, USA: Apple shares gained ground on Monday (12 August) after a report saying the California company was set to announce its next iPhone at an event 10 September.

13 Aug 2013

The Dow Jones news website AllThingsD reported at the weekend that Apple scheduled an event next month where it will announce its newest iPhone in an effort to regain ground lost to Samsung and other smartphone manufacturers.

Details were not clear, but speculation has centered around whether Apple would shift its strategy to include a lower-cost handset to appeal to more consumers, especially in emerging markets.

Trip Chowdhry, analyst at Global Equities Research, said Apple appeared to be preparing "to declare thermo-nuclear war on Android," referring to the Google mobile operating system which has become dominant in the smartphone market.

Chowdhry said the launch is likely to be one of the most successful launches in the company's recent history.

"If Apple launches a cheaper iPhone, Apple will immediately gain market share against Android, as in many parts of the world, consumers are not well informed and are buying Android phones thinking that they are buying a cheap iPhone," he said in a note to clients.

A recent IDC survey showed Apple's share of the global smartphone market slipped to 13.2% in the second quarter, from 16.6% a year ago, while Android's share rose to 79.3%.

Source: AFP via I-Net Bridge

Source: I-Net Bridge

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