http://www.bbc.co.uk/news/technology-15172238
Apple unveils refreshed iPhone 4S, but no iPhone 5
Recently Apple has uncovered their newest product under their cellphone range; known as the iPhone 4S. To many consumers’ dismay, it was not the long waited iPhone 5 but only an upgrade from the old iPhone 4. Apple’s new CEO Tim Cook made this announcement; the product will officially go on sale October 14th 2011. Apple’s stock had dropped almost by 5% in the first few minutes of the announcement. Many exclaimed this iPhone 4S is a major disappointment, as the long awaited changes have not been presented, but only an alternation of inner parts.
The product was indeed somewhat of a disappointment among the public, but I believe it was an act of genius towards the business world. Apple is a leading major in the phone market thus they are using the inelasticity demand for their phones to continuously get consumers to buy new products with old faces. The other companies can’t copy this method due to the fact that other mobiles are in fact very elastic. Also because of the recent death of Steve Jobs, I believe Apple’s shares will not fall but rise. Consumers will be the need to praise this great individual thus purchasing this product.
It gave me a disappointment that there were so many rumours that the iphone 5 would come out, but it did not.However, I cannot deny the fact that it is impressive that there are major improvements on the iphone every time there is a new generation coming out.