Apple Announces Event on Sept. 12 for Revamped iPhone Lineup

(Bloomberg) -- Apple Inc. set Sept. 12 as its most important day of the year when the world’s most valuable public company will unveil the next iPhones. A couple of hours later, images of two of the new devices appeared online.

The event will be held in Cupertino, California, at the Steve Jobs Theater on the company’s Apple Park campus, according Apple’s website. "Gather Round," the invite said, likely referring to the shape of the company’s new campus.

The company will unveil its renewed iPhone strategy at the event. It’s planning three new models that look like the iPhone X, including a refresh to the flagship device, a larger premium model, and a larger, cheaper model that comes in different colors. All three devices will have facial recognition and edge-to-edge screens like the iPhone X, but the two premium models will have OLED screens, while the cheaper phone will use LCD technology, Bloomberg News has reported.

Later on Thursday, website 9to5Mac published photos of two new iPhones and a new Apple Watch. The images corroborate earlier Bloomberg News reporting that the new high-end devices would come in two sizes, feature a gold color option and use the name iPhone Xs. The image of the Watch shows a new face that displays more information and a bigger display.

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Seth Weintraub, who owns 9to5Mac, said the photos were spotted on a hidden portion of Apple’s website and are actual photos of the products to be announced in September.

Apple goes to extensive lengths to keep its products under wraps. However, this is the second year in a row where details about new products leaked at least partly through Apple. Last year, details about the iPhone X, cellular Apple Watch, and HomePod speaker emerged early via software accidentally released online by Apple.

The iPhone accounts for about two-thirds of the company’s revenue, and serves as a hub for Apple Watches, AirPods, and services like the App Store and Apple Music, which generate most of Apple’s other sales.

Last quarter, the iPhone generated almost $30 billion in sales. Apple will collect more than $61 billion in revenue in the September quarter, the period when the new iPhones are likely to go on sale, according to data on analysts’ estimates compiled by Bloomberg.

On Thursday, Warren Buffett said he slightly increased his stake in Apple recently, adding that the iPhone is "enormously underpriced" for the utility it offers users. Apple shares rose 1.5 percent to $226.37 on Thursday afternoon in New York.

Beyond the iPhones, Apple is also planning new Macs, Apple Watches, and iPad Pros for debut this year. Each time Apple has unveiled a new Apple Watch model, it has done so alongside a new iPhone, while Mac and iPad updates are sometimes unveiled separately. The new Apple Watch models will include larger screens that cover nearly the entire front of the watch.

The Apple Watch isn’t an iPhone-like revenue generator, but is part of the company’s growing Other Products segment. That division, which also includes AirPods, the Apple TV, HomePod, Beats headphones, and iPad accessories, generated a $3.7 billion in revenue last quarter.

Apple is also working on two new iPad Pro models with slimmer bezels and facial recognition along with a new low-cost MacBook laptop and a Mac mini desktop geared toward professionals, Bloomberg News has reported.