With the $999 iPhone X, Apple moved to a new premium level of pricing. The smartphone will cost $300 more than the iPhone 8 and $200 more than the iPhone 8 Plus.
While that will be too expensive for many people, the company said it saw the iPhone X defining a new era for the smartphone, much like the original iPhone did 10 years ago. Timothy D. Cook, Apple’s chief executive, said the device would “set the path for the next decade.” That’s because Apple will likely build on some of the iPhone X’s most notable features, including infrared facial recognition, wireless battery charging and sophisticated camera effects.
Consumer reaction to the new phone will have a big impact on the company’s revenue and stock price. Right now, analysts are betting on a slow uptake of the top-end phone, both because of production delays and the high price. But if it turns out to be an unexpected hit, like the iPhone 6 Plus and 7 Plus, the company’s sales — and stock price — could surge.
Wall Street wasn’t immediately dazzled by Apple’s presentation, however, with the stock price down more than 1 percent by the end of the event.