iPhone absence offers Apple chance to show increasingly diverse portfolio at new product launch
Apple’s product launch next week will be missing an iPhone for the first time in almost a decade.
The latest instalment of the company’s most successful product has had its launch delayed until October due to coronavirus-related supply chain disruption.
At the “Time Flies” event on Tuesday, Apple will unveil its sixth generation Apple Watch, a new iPad Air, and reportedly, over-ear headphones dubbed AirPods Studio and a tracker for lost items called AirTags.
The absence of the highly-anticipated iPhone 12, which will feature 5G technology, is a blow for Apple, but offers them the opportunity to showcase how it is no longer so reliant on the iPhone.
iPhone sales have fallen by 16 per cent in the last five years and accounted for just 44 per cent of the firm’s sales in the last quarter.
Meanwhile, its wearables and accessories divisions have seen revenues soar by 144 per cent to $6.45bn, largely driven by its Apple Watch and AirPods.
iPad revenues are also up 45 per cent, while its services climbed 162 per cent to $13.2bn.
The company’s growing diversification has been reflected in its share price.
At the start of the month it became the first company to surpass a $2tn market value, more than four times its worth in 2015.