Apple iPhone 7 Release Date a Guessing Game (AAPL)

Apple Inc. (AAPL) is still at the top of mind for enthusiasts and analysts as it prepares to announce the next generation of iPhones, even amid falling iPhone sales. (See also: Tablet Sales Continue Descent, Apple Only Company To Increase Share.)

Reading the Tea Leaves

Apple enthusiast and expert John Gruber recently predicted in a tweet that the iPhone 7 will be launched on September 7 based on a rudimentary analysis of the past dates of iPhone events in the last four years. Others have opined that the company will start pre-orders for the smartphones latest edition on September 9 followed by an eventual shipping date of September 16 for the first batch.

The latest release of Apple's iPhone comes at a crucial time. Although it beat analyst expectations during the previous quarter, the company witnessed a 27 percent decline in iPhone sales. In addition, Apple has forecast slow growth ahead. A new smartphone could provide a crucial bump in sales and earnings.

No Radical Design

Despite the hype, the new iPhone is not expected to have a radical new design. That will happen next year to coincide with the smartphone's tenth anniversary. Instead, the next edition of Apple's iPhone is expected to feature a slew of modifications. For example, Apple is rumored to have removed the headphone jack and made the camera hole substantially larger in the phone's latest edition. The antenna lines are also supposed to have been moved. The minimum storage capacity on the new edition will be increased to 32 GB and it will come in two sizes: 4.7 inches and 5.5 inches.

Lukewarm Reception

However, the outlook the iPhone's new model isn't promising. A survey conducted by tech publication Quartz (QZ) found that only 9% of participants said they are likely to upgrade their iPhones this year if it is not redesigned. Seventy-percent said they were comfortable with a three-year iPhone upgrade cycle. Mark Moskowitz, analyst at investment firm Barclays, has already revised his estimate of iPhone's unit sales downward. According to Moskowitz, Apple will sell 1.8% fewer iPhones in 2016 compared to the previous year.

Source: Apple iPhone 7 Release Date a Guessing Game (AAPL)