Apple Inc CEO Tim Cook discusses the iPhone 7 during an Apple media event in San Francisco, California, U.S. September 7, 2016. - Reuters. (Inset close up of iPhone 7 and AirPods are displayed during an Apple media event in San Francisco)
But Mike Binger, senior portfolio manager at Gradient Investments LLC in Minneapolis, said the new phone encouraged him that Apple was in good shape for a new sales cycle.
"I think the iPhone 7, just from a replacement basis, will be a successful launch," he said.
The world's best-known technology company said the iPhone 7 would have one, zooming 12-megapixel camera. Starting at $649 (486.598 pounds), it is the same price as the 6S predecessor. The larger 7 'Plus' edition, starting at $769, would feature two cameras, including a telephoto lens.
Apple also removed the analog headphone jack from both new models, as was widely expected. The new headphones supplied by Apple with the phone will plug into the same port as the recharging cord, making it incompatible with most wired headphones without an adaptor. Apple includes the adapter.
The phones will also work with Apple's new wireless headphones, called Air Pods, available in late October at a price of $159.
The disappearance of the headphone jack “will probably annoy a certain amount of people” but they would likely get over it, Binger said.
Apple described dropping the jack as an act of courage as it moved toward a wireless future with the optional Air Pods. Getting rid of the jack also increased room for stereo speakers, and Apple sharpened the technology on most features, from the camera to a pressure-sensitive home button to a boost in memory.
The new phone will start shipping in major markets, including the United States and China, on Sept. 16.
Bob O'Donnell of research firm TECHnalysis said Apple's new glossy black finish could be more popular than any tech feature, reflecting the slowdown in major tech innovations for smartphones.
"While the camera improvements for the iPhone 7 Plus are nice, they are incremental for most and the lack of headphone jacks could offset that for others," he said.
Apple typically gives its main product, which accounts for more than half of its revenue, a big makeover every other year and the last major redesign was the iPhone 6 in 2014. Many are expecting a three-year cycle this time, culminating in a major redesign for 2017 to be called iPhone 8.
Apple said its Apple Watch Series 2, with a swim-proof casing, will be available in more than 25 countries starting on Sept. 16.
"I predict Watch sales will improve dramatically," said Tech analyst Patrick Moorhead. "Most of the current Watch owners are early adopters and the next wave could be 10 times the size of that market."
Apple also launched a new version of the device called the Apple Watch Nike+, in partnership with the athletic goods manufacturer Nike Inc, featuring GPS so athletes can track their runs.
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