The company is hosting a "Wonderlust" event at its Silicon Valley headquarters, a time of year traditionally reserved for iPhone announcements ahead of the holiday shopping season.
While Apple has kept details under wraps, this launch comes at a time when the tech giant faces challenges in the Chinese market. Reports suggest the Chinese government is banning civil servants from using Apple phones, stating potential concerns over Apple's reliance on China for manufacturing, although this is unlikely to significantly impact sales.
Apple's iPhone sales have faced declines in recent quarters, partly due to higher prices prompting customers to delay upgrading to newer models. Amid the rumors swirling around any iPhone launch, most experts agree that Tuesday's event will introduce a universal USB-C port, replacing the unique Lightning connectors used for charging and data transfers.
This shift aligns with European Union regulations requiring USB-C to become the standard charger for all new smartphones, tablets, and cameras by late 2024. While consumers may initially hesitate due to the cable change, it's expected that they will adapt over time, as seen with previous connector transitions.
European Union policymakers argue that this rule will simplify the lives of Europeans, reduce electronic waste from obsolete chargers, and lower costs for consumers. Apple has already incorporated USB-C charging ports in its iPads and laptops but resisted similar changes for iPhones, citing concerns about stifling innovation and security.
In addition to iPhone updates, Apple is likely to introduce new models of Apple Watch and AirPods at the event. However, the iPhone 15 is expected to be the focal point, determining Apple's trajectory for the coming year.
Analysts anticipate improvements in iPhone cameras and chips, along with price increases for the Pro models. In the previous quarter, iPhone sales fell short of analyst expectations, with a 2.4 percent decline, despite iPhones contributing significantly to Apple's total revenues.
Recent reports of restrictions on iPhones within Chinese government offices and state-backed entities have also impacted Apple's stock prices. China remains a vital market for Apple, making any negative sentiment from the Chinese government a cause for concern.
