iPhone 16 unveiled by Apple, marking ‘the beginning of an exciting new era’

It’s Apple Day, the iPhone maker’s always highly anticipated event at which, this year, the company introduced the first lineup of iPhones rebuilt from the ground-up. It brings the company’s most important product into the era of generative artificial intelligence and is expected to kick off a super-cycle of iPhone sales and upgrades.

“iPhone 16,” Apple CEO Tim Cook raved during today’s keynote, “raises the bar for what an iPhone can do.”

Among the key features to know: The base and Plus iPhone 16 models will come in 6.1- and 6.7-inch models, both of which will also include the new customizable action button on the left side of the phone. There are also new color finishes including ultramarine, teal, and pink. Also, new iPhone 16s include a camera control capacity slider and new 3mm A18 chip with a neural engine that’s 2x faster.

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Importantly, Phone 16 will be Apple’s first phone to use Apple Intelligence in beta following a software update coming in October. “Apple Intelligence,” the company says, “is deeply integrated into iOS 18, iPadOS 18, and macOS Sequoia, harnessing the power of Apple silicon to understand and create language and images, take action across apps, and draw from personal context to simplify and accelerate everyday tasks — all while protecting users’ privacy and security.”

According to a Wedbush analysis, the new iPhone 16 model lineup today may well kick off “Cupertino’s biggest upgrade cycle in its history.” Furthermore, Wedbush estimates that around 20% of consumers worldwide will access and interact with generative AI apps through Apple’s ecosystem in the coming years. Also, there are currently an estimated 300. million iPhones globally that haven’t upgraded since 2020.

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“We believe the Street is starting to slowly recognize that with Apple Intelligence on the doorstep, in essence Cupertino will be the gatekeeper of the consumer AI revolution,” the Wedbush note continues. “Developers and other technology stalwarts will likely now need to integrate their AI models/technology into Apple Intelligence, looking ahead as Apple and its golden iOS ecosystem hold the only keys to the castle of 2.2 billion iOS devices worldwide and 1.5 billion iPhones.”

So … raise your hand if you’re upgrading?

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