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The device starts at $999 and comes in 64GB and 256GB storage versions. Pre-orders start on 27 October and the phone will be available beginning 3 November, the company said. Apple shares fell 0.8% to $160.18 after the announcement.
Apple shares have gained about 40% this year on expectations the new phone will reignite sales growth after a rare revenue decline last year. The iPhone accounts for almost two-thirds of total sales, and it’s a hub for most of Apple’s other products and services.
The iPhone X will cost from $1 000, a pricey psychological threshold for consumers that Apple will try to overcome with augmented reality features and other new technology.
“With expected innovations around AR, wireless charging, viewable screen size, OLED and more, the next iPhone is clearly poised for its largest upgrade cycle yet,” Ben Schachter, an analyst at Macquarie Securities USA, wrote in a note to investors ahead of the event.