The Cupertino, California-based company is still testing different designs for the device, codenamed D23, which could have Apple’s next-generation processor, likely called A19, the report added.
The long-awaited revamp underscores Apple’s need to spruce up the iPhone, the company’s most popular product, as it deals with tough competition from Honor and Huawei in China and Samsung Electronics 005930.KS globally.
Samsung had the largest share of the smartphone market in the first three months of 2024, at 20.8%, followed by Apple’s market share at 17.3%, according to research firm International Data Corporation.
In the fiscal second quarter, Apple iPhone sales fell 10.5% to $45.96 billion.
Apple also plans to abandon its iPhone Plus model and intends to launch a cheaper iPhone, a successor to its iPhone SE in spring 2025, according to the report.
The news comes days after Apple unveiled its latest iPad Pro with a new chip for artificial intelligence computing, as it races to catch up with its Big Tech rivals in a race to dominate the emerging technology.
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