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APPLE

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Apple : to launch three iPhones with new camera features this year - WSJ

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01/11/2019 | 08:00am EDT
FILE PHOTO: An Apple company logo is seen behind tree branches outside an Apple store in Beijing

(Reuters) - Apple Inc plans to launch three iPhone models this year with some new camera features, including three rear cameras for the most expensive model and two for the other models, the Wall Street Journal reported on Friday.

The new iPhones will succeed the XR model that has shown sluggish demand, which according to Apple was due to weak sales in China.

That led several electronics retailers in the world's second largest economy to slash iPhone prices this week.

Apple was not available for comment outside regular business hours.

The Cupertino, California-based company has decided to stick to liquid-crystal display (LCD) at a time when sluggish sales of iPhone XR cut into its most recent revenue projection, the report said, citing people familiar with the matter.

Last week, Apple issued its first revenue warning in nearly 12 years, sending its shares down 10 percent, their biggest intra-day fall in six years.

Apple plans to continue with LCD model as the device has been in the production pipeline for months, the report said.

However, for 2020, Apple will fully switch to the organic light-emitting diode, or OLED, display for iPhones, thereby completely dropping the LCD model, the report said.

Shares of the company was nearly flat in premarket trading.

(Reporting by Gaurika Juneja and Vibhuti Sharma in Bengaluru; Editing by James Emmanuel and Arun Koyyur)

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Financials ($)
Sales 2019 257 B
EBIT 2019 62 453 M
Net income 2019 53 283 M
Finance 2019 99 072 M
Yield 2019 1,50%
P/E ratio 2019 17,41
P/E ratio 2020 15,72
EV / Sales 2019 3,18x
EV / Sales 2020 3,10x
Capitalization 915 B
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Mean consensus OUTPERFORM
Number of Analysts 43
Average target price 212 $
Spread / Average Target 6,7%
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Managers
NameTitle
Timothy Donald Cook Chief Executive Officer & Director
Arthur D. Levinson Chairman
Jeffrey E. Williams Chief Operating Officer
Luca Maestri Chief Financial Officer & Senior Vice President
Kevin M. Lynch Vice President-Technology
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