“You have to expect they’re going to do something, considering how hyper competitive the streaming video space is,” said Tim Hanlon, CEO of Vertere Group.
Apple CEO Tim Cook did not have much new to say about the TV service beyond its pricing and debut date, although he did show a trailer for a new Jason Momoa-led series called “See.”
Netflix declined to comment. In the past, Netflix CEO Reed Hastings has depicted the increased competition as a positive for everyone, allowing consumers to create their own entertainment bundles instead of accepting bundles put together at higher prices by cable and satellite TV services.
Like Netflix and similar services from Amazon and Hulu, Apple has been spending billions of dollars for original programs. The most anticipated so far seems to be “The Morning Show,” a comedy starring Jennifer Aniston, Reese Witherspoon and Steve Carrell. The service will launch with nine original shows and films, with more expected each month. It will only carry Apple’s original programming and will be available in 100 countries at launch.
The new iPhones were accompanied by an unexpected price cut for the cheapest model, which underscored the company’s efforts to counteract the deepest slump in sales for its flagship product since the phone was unveiled 12 years ago.
IPhone shipments are down 25% so far this year, according to the research firm IDC, putting pressure on Apple to generate revenue from services such as music, video streaming, games and its App Store. Revenue from services rose 14% to nearly $23 billion during the first half of this year.
Apple is cutting the price of the iPhone 11 to $700 from $750, the price of last year’s XR. The lower prices reverse a trend in which premium phones get more expensive as people upgrade them less often.
The new phone models resemble last year’s iPhone XR, XS and XS Max. And they have the same design — with more display space, less bezel and no home button — that Apple switched to with the iPhone X in 2017.
Read the original article here