Today, Apple unveiled its iPhone 7.



and the magic. Apple`s stock was flat as a tablet today.>

SCOTT PELLEY: Today, Apple unveiled its iPhone 7. But two traditional Apple features were missing, the headphone jack and the magic. Apple`s stock was flat as a tablet today. So, we asked John Blackstone whether Apple was losing appeal.

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(Crowd cheering)

JOHN BLACKSTONE: At Apple`s annual launch of new products, the superlatives always flow.

TIM COOK: It`s the best iPhone that we have ever created.

JOHN BLACKSTONE: Introducing the iPhone 7 today, CEO Tim Cook gushed over the success of Apple`s flagship product.

TIM COOK: We`ve now sold over a billion of them.


TIM COOK: This makes iPhone the best-selling product of its kind in the history of the world.

JOHN BLACKSTONE: But this past year for the first time, Apple sold fewer iPhones than the year before with revenue dropping twenty-seven percent. Apple`s counting on new features added to iPhone 7 to bring buyers back. Scott Stein, senior editor at CNET.

SCOTT STEIN: So, I think that there were a lot of upgrades that people want to see on previous iPhones, like water resistance and battery life, but doesn`t necessarily add up to something that sounds immediately exciting. I don`t know if you necessarily take the plunge to go into them if you have a previous phone.

JOHN BLACKSTONE: The price remains the same, six hundred forty-nine dollars.

These are expensive products.

SCOTT STEIN: They are very expensive. And I think you want the hang on to them for a handful of years.

JOHN BLACKSTONE: To combat sticker shock into promote annual upgrades, Cook today talked up the company`s thirty-two-dollar-a-month lease plan that lets get users get the latest iPhone directly from Apple every year.

HORACE DEDIU: Basically, the way I like to think about is the iPhone is a dollar-a-day product.

JOHN BLACKSTONE: Tech analyst Horace Dediu.

HORACE DEDIU: But it`s a very reliable recurring income model. And it`s one way to think about Apple. It`s a little bit different than just waiting for a big hit every few years.

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JOHN BLACKSTONE: Some users worry about what is not on the new iPhone, the little hole in the bottom to plug in the familiar earphone jack is gone. Earphones will now use Apple`s lightning connector or for a hundred fifty- nine dollars, Scott, Apple will sell you wireless earphones.

SCOTT PELLEY: John Blackstone, thanks very much.

Coming up next, a pioneer for women scores one last victory.



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