Apple has launched its 5G-enabled iPhone 13 series as it wrestles with other smartphone manufacturers to increase its market share and attempts to diversify its product portfolio to attract more budget-conscious customers.
The new models – the iPhone 13 mini, iPhone 13, iPhone 13 Pro and iPhone 13 Pro Max – were released at Apple's ‘California Streaming' online event broadcast live from the company’s headquarters in Cupertino on Tuesday.
“These are the best iPhones we have ever created,” Apple’s chief executive Tim Cook said.
For budget users, the iPhone 13 mini and iPhone 13 models start from $699 and $799, respectively. The iPhone 13 Pro costs $999, while the iPhone 13 Pro Max starts at $1,099.
With a 13.7-centimetre display, the iPhone 13 mini is one of the smallest and thinnest 5G smartphones in the market. The iPhone 13 comes with a 15.5cm display.
The iPhone 13 Pro and the iPhone 13 Pro Max come in two screen sizes, 15.5cm and 17cm.
“iPhone 13 Pro and iPhone 13 Pro Max make up our most pro-iPhone line-up ever with the biggest advancement for our camera system, the best battery life ever in an iPhone and the fastest performance of any smartphone,” Apple’s senior vice president of worldwide marketing Greg Joswiak said.
The iPhone 13 Pro line-up features the best camera system in iPhone history, the company claimed.
All three rear cameras on pro models come with the latest sensors and bigger lenses that are optimised to work seamlessly with the latest iOS 15 mobile operating system. They are powered by the new image signal processor for improved noise reduction and tone mapping.
The iPhone 13 mini and iPhone 13 come with an advanced dual-camera system for improved photos and videos in low-light situations. They introduce a new cinematic mode that offers innovative tools to video storytellers.
“Our customers rely on iPhone every day, which is why we have made iPhone 13 and iPhone 13 mini more powerful, more capable and more fun to use,” said Mr Joswiak.
“Both phones have beautiful designs … with incredible durability, water resistance and a big jump in battery life to ensure customers can depend on their iPhone when they need it,” he added.
Apple’s new phones are powered by a new chip designed by the company - the A15 bionic.
The company’s executives called the chip the “fastest” in the smartphone industry. It uses five-nanometre technology and includes 15 billion transistors that make the new iPhones up to 50 per cent faster than other brands and enable them to perform 15.8 trillion operations per second.
Customers will be able to pre-order the new phones from Friday.
Although Apple saw a good response to its previous iPhone 12 series, the company is facing stiff competition from Chinese brands such as Xiaomi and Oppo.
The technology company, which sold more than 49.2 million devices to grab a 15 per cent market share in the second quarter, was pushed to third place in the smartphone industry by Xiaomi in the three months to June 30, US research company Gartner reported.
Overall, global smartphone shipments to end users stood at 328.8 million in the second quarter, an annual increase of 10.8 per cent, despite supply constraints because of Covid-induced production disruptions and component shortages.
Apple also rolled out its latest Apple Watch Series 7, which features narrower borders that allow the display to maximise the screen area while minimally changing the dimensions of the watch itself.
Powered by the latest watchOS 8 operating system, the new smartwatch offers various health and wellness tools, such as an ECG app and a blood oxygen sensor.
“[With the] largest and most advanced display, to enhanced durability and faster charging — [the Apple Watch 7] makes the world’s best smartwatch better than ever before,” Apple’s chief operating officer Jeff Williams said.
It offers about 20 per cent more screen area and thinner borders at only 1.7 millimetres – 40 per cent smaller than those on Apple Watch 6. It also offers 18-hour battery life on a single charge and 33 per cent faster charging compared with the previous series.
Apple also introduced a new iPad mini and iPad. Both devices will be in stores from Friday.
Featuring the A15 bionic chip, the new iPad mini delivers up to 80 per cent faster performance than the previous generation.
Desert Warrior
Starring: Anthony Mackie, Aiysha Hart, Ben Kingsley
Director: Rupert Wyatt
Rating: 3/5
World Cricket League Division 2
In Windhoek, Namibia - Top two teams qualify for the World Cup Qualifier in Zimbabwe, which starts on March 4.
UAE fixtures
Thursday February 8, v Kenya; Friday February 9, v Canada; Sunday February 11, v Nepal; Monday February 12, v Oman; Wednesday February 14, v Namibia; Thursday February 15, final
Honeymoonish
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Arabian Gulf League fixtures:
Friday:
- Emirates v Hatta, 5.15pm
- Al Wahda v Al Dhafra, 5.25pm
- Al Ain v Shabab Al Ahli Dubai, 8.15pm
Saturday:
- Dibba v Ajman, 5.15pm
- Sharjah v Al Wasl, 5.20pm
- Al Jazira v Al Nasr, 8.15pm
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THREE
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Mercer, the investment consulting arm of US services company Marsh & McLennan, expects its wealth division to at least double its assets under management (AUM) in the Middle East as wealth in the region continues to grow despite economic headwinds, a company official said.
Mercer Wealth, which globally has $160 billion in AUM, plans to boost its AUM in the region to $2-$3bn in the next 2-3 years from the present $1bn, said Yasir AbuShaban, a Dubai-based principal with Mercer Wealth.
“Within the next two to three years, we are looking at reaching $2 to $3 billion as a conservative estimate and we do see an opportunity to do so,” said Mr AbuShaban.
Mercer does not directly make investments, but allocates clients’ money they have discretion to, to professional asset managers. They also provide advice to clients.
“We have buying power. We can negotiate on their (client’s) behalf with asset managers to provide them lower fees than they otherwise would have to get on their own,” he added.
Mercer Wealth’s clients include sovereign wealth funds, family offices, and insurance companies among others.
From its office in Dubai, Mercer also looks after Africa, India and Turkey, where they also see opportunity for growth.
Wealth creation in Middle East and Africa (MEA) grew 8.5 per cent to $8.1 trillion last year from $7.5tn in 2015, higher than last year’s global average of 6 per cent and the second-highest growth in a region after Asia-Pacific which grew 9.9 per cent, according to consultancy Boston Consulting Group (BCG). In the region, where wealth grew just 1.9 per cent in 2015 compared with 2014, a pickup in oil prices has helped in wealth generation.
BCG is forecasting MEA wealth will rise to $12tn by 2021, growing at an annual average of 8 per cent.
Drivers of wealth generation in the region will be split evenly between new wealth creation and growth of performance of existing assets, according to BCG.
Another general trend in the region is clients’ looking for a comprehensive approach to investing, according to Mr AbuShaban.
“Institutional investors or some of the families are seeing a slowdown in the available capital they have to invest and in that sense they are looking at optimizing the way they manage their portfolios and making sure they are not investing haphazardly and different parts of their investment are working together,” said Mr AbuShaban.
Some clients also have a higher appetite for risk, given the low interest-rate environment that does not provide enough yield for some institutional investors. These clients are keen to invest in illiquid assets, such as private equity and infrastructure.
“What we have seen is a desire for higher returns in what has been a low-return environment specifically in various fixed income or bonds,” he said.
“In this environment, we have seen a de facto increase in the risk that clients are taking in things like illiquid investments, private equity investments, infrastructure and private debt, those kind of investments were higher illiquidity results in incrementally higher returns.”
The Abu Dhabi Investment Authority, one of the largest sovereign wealth funds, said in its 2016 report that has gradually increased its exposure in direct private equity and private credit transactions, mainly in Asian markets and especially in China and India. The authority’s private equity department focused on structured equities owing to “their defensive characteristics.”
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