The long-awaited unveiling of Apple’s iPhone 7 was met with mild applause and minimal reaction from investors. Apple’s stock price barely moved after the announcement the new phone, and expert opinion is that many consumers will stick with the iPhone 6 for now.
The main confirmation was that the 3.5mm headphone jack has been removed to free up space and to extend battery life by two hours. In its place are Lightning cable earbuds and the new wireless headphones, dubbed AirPods, using Apple’s W1 chip, although the user must buy them separately. Apple is including a dongle for the Lightning port for users who would rather use their own, now-old-school 3.5mm-compatible headphones.
Here are the details:
$600–$700 | The cost of the new iPhone 7
$159 | The cost of wireless AirPod headphones using Apple’s W1 chip
40% | The percent increase in speed of the new iPhone 7 processor
20% | The increase in Apple’s stock price immediately following the announcement of the iPhone 6
1% | The increase in Apple’s stock price immediately following the announcement of the iPhone 7