Technology

Apple Bets on AI to Revitalize iPhone Sales

Jun 11, 2024 1 min read

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At its annual developer conference, Apple introduced Apple Intelligence, a new suite of AI features aimed at bolstering iPhone sales. This generative AI can create text, images, and other content on command, and requires at least an iPhone 15 Pro or Pro Max to operate. The company hopes this will invigorate its loyal fan base and reverse a sales decline for its largest-selling product.

However, the announcement was met with mixed reactions. While some analysts believe the AI capabilities could drive a significant upgrade cycle, others remain skeptical that consumers will rush to purchase new devices for these features. Following the announcement, Apple's stock fell 2%. Despite this, Apple remains optimistic that the new AI functionalities, along with enhancements like larger displays and improved camera quality, will help maintain its position as a leader in consumer technology. Apple's iPhone revenue for the fiscal year ending in September 2023 was $200.6 billion, down from $205.5 billion the previous year.

#tech #electronics #ai #iphone

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