Apple hasn’t given users a significant reason to buy an upgraded iPhone for four years, since it rolled out 5G connectivity with the iPhone 12 — a worrying trend for the tech giant’s core business. That could change this week.
The iPhone brought in more than half of the company’s total revenue last year, but sales growth has lagged as customers have been slower to upgrade to new models. Longer upgrade cycles — the time between users’ new phone purchases — currently plague many device companies. But they’ve been especially painful for Apple as it grapples with compounding challenges that also include steep competition in the key China market and a landmark antitrust lawsuit.
Apple is expected to announce new artificial intelligence features at its annual Worldwide Developer Conference on Monday, which could supercharge its products and bring Apple back into competition with much of the rest of the tech world that has already gone full steam ahead on AI. And no product is more important to Apple than the iPhone.
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