Apple is preparing for a monumental day in iPhone history, where it will unveil its newest iterations of the smartphone, the iPhone 6s and 6s Plus. According to a report from USA Today, the company hopes that the exciting new features will help drive sales after a bumpy summer.
Apple lost nearly 20 percent of its stock price over the past few weeks, amounting to a $155 billion loss for investors. The drop falls on the back of concerns about China’s smartphone market, which poses questions about Apple’s current financial situation.
According to Daniel Ives, an analyst from FBR Capital Markets, iPhone 6s and 6s Plus sales will largely determine the level of investor confidence in the company over the year’s remaining months. He calls the situation a “white knuckle period” for the company, but believes that Apple will pull through with the rollout of its newest mobile device.
Apple is facing an increasing level of competition from Chinese mobile phone producers Huawei and Xiaomi, prompting the company to seek other developing markets in India and South America. Still, Apple plans to have 40 retail stores in China by the middle of next year.
Despite Apple’s financial situation abroad, American consumers can expect to see a killer new iPhone, with improved Siri capabilities and the highly anticipated Force Touch technology. Be sure to check out the unveiling of the new phone on September 9 in San Francisco.