Apple – one of the world’s most valuable public companies – is poised to host its first product launch event of the year on March 8, when it is expected to introduce several keenly-awaited devices.
The company, based in Cupertino, California, is likely to release the next-generation version of one of its cheapest smartphones, the iPhone SE, as well as redesigned tablets and laptops through its virtual "peak performance" event.
Market chatter and Apple enthusiasts believe the performance of new devices has been improved, with better chips and processors. Apple does not confirm upcoming product names ahead of its events.
The event, to be held at the Steve Jobs Theatre on the Apple Park campus in California, will be live streamed on the company’s website because of the Covid-19 pandemic.
In September, Apple launched its new iPhone 13 series, Apple Watch 7 and new iPads.
Apple's annual Worldwide Developers Conference, where developers can attend sessions and meet its engineers is likely to be held in June, as it was last year. The event has been a launchpad for software updates for the iPhone, iPad, Mac and Apple Watch.
Here is a rundown on what to expect this Tuesday based on market chatter and leaks.
Next generation iPhone SE
Apple is expected to launch its lowest cost 5G smartphone, the iPhone SE 3, that will come with improved battery life, faster processors and better cameras.
This move could help the company to attract budget-conscious buyers as it tries to wrestle market share from rivals Samsung and Xiaomi.
The new phone will be the third-generation iPhone SE. The first model was launched in 2016 with a starting price of Dh1,466 ($399), but was discontinued in September 2018. The second model was introduced in April 2020 at Dh1,699 ($463) and is one of Appel's biggest-selling products.
The iPhone SE 3 will have the same design as its predecessor, according to industry experts. The current model comes in an iPhone 8 body with iPhone 11 Pro processing power. The company is expected to use its own A15 bionic chips that are currently used in the iPhone 13.
To attract a larger pool of budget-conscious consumers, Apple is expected to keep the price of the new phone at $399, lower than its cheapest 5G smartphone, the iPhone 12 Mini, which starts at $599.
It will be the company's most affordable 5G iPhone, according to Apple analyst Ming-Chi Kuo, who closely follows the company. He expects the company to sell 25 million to 30 million units of the iPhone SE 3 this year.
Revamped iPads
Apple is likely to roll out the revamped iPad Air to attract more users. The new device will come with 5G connectivity and a faster chip to boost the overall performance of the device.
To ensure better video calls, the new tablet’s camera will support "centre stage" feature that ensures users are in the right frame even if they are walking or moving around in the room.
Apple is also planning to upgrade the iPad Pro with a new design and wireless charging support, according to Bloomberg.
New features and innovative technology are likely to be added to iPads because the tablet is the only product segment that experienced a decline in sales in the last quarter. iPad sales dropped about 14 per cent year on year to a little over $7.2 billion in the holiday quarter that ended on December 25.
New Macs
The market expects Apple to launch a higher-end version of the Mac mini to draw more professional users. It is likely to come with a new design and the company’s own M1 Pro and M1 Max chips that were launched in October and replace the Mac minis that use Intel chips.
The company is also expected to launch a revamped 13-inch MacBook Pro with the new M2 chip.
Unlocking iPhone with face masks on
Apple recently rolled out the fifth beta of its latest operating system iOS 15.4. The final update is likely to arrive on consumer devices on the event day or by mid-March. It will offer many new features, such as a Face ID facial recognition system that works with masks and can recognise unique features around the eye for verification.
Competitors such as Samsung are already offering users the option to use only an iris scan to unlock their devices and bypass masks.
Face ID allows users to unlock the iPhone, log in to supported apps and services and verify purchases on the App Store and other compatible platforms. The technology, using the iPhone's TrueDepth front camera, combines data from the user's eyes and other features.
How to watch the Apple event
The event will start at 10pm UAE time on Tuesday. Viewers can tune in at apple.com
It will also be streamed on YouTube and through the Apple TV application for the iPhone, iPad and Mac.
When can consumers buy the new Apple products?
Industry experts predict that consumers will be able to place orders for new Apple products from Friday, and expect deliveries by the end of this month.
However, they believe many of the company's products may not be announced until the end of this year. In January, Bloomberg reported that Apple may launch "the widest array of new hardware products in its history" later this year. The company usually launches its new iPhones and smartwatches in September every year.
Results
Female 49kg: Mayssa Bastos (BRA) bt Thamires Aquino (BRA); points 0-0 (advantage points points 1-0).
Female 55kg: Bianca Basilio (BRA) bt Amal Amjahid (BEL); points 4-2.
Female 62kg: Beatriz Mesquita (BRA) v Ffion Davies (GBR); 10-2.
Female 70kg: Thamara Silva (BRA) bt Alessandra Moss (AUS); submission.
Female 90kg: Gabreili Passanha (BRA) bt Claire-France Thevenon (FRA); submission.
Male 56kg: Hiago George (BRA) bt Carlos Alberto da Silva (BRA); 2-2 (2-0)
Male 62kg: Gabriel de Sousa (BRA) bt Joao Miyao (BRA); 2-2 (2-1)
Male 69kg: Paulo Miyao (BRA) bt Isaac Doederlein (USA); 2-2 (2-2) Ref decision.
Male 77kg: Tommy Langarkar (NOR) by Oliver Lovell (GBR); submission.
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Male 94kg: Kaynan Duarte (BRA) bt Adam Wardzinski (POL); submission.
Male 110kg: Joao Rocha (BRA) bt Yahia Mansoor Al Hammadi (UAE); submission.
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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