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Investors seem disappointed
During an Apple press conference in Cupertino, California, Apple unveiled their iPhone 4s. However, investors were initially disappointed with the product, reports the Financial Times.
The new model of the flagship iPhone, the iPhone 4s, is very similar to the iPhone 4. The differences are slight — it has a better camera, a faster chip, and a voice recognition feature that answers questions for the user. Online bloggers also seemed underwhelmed, reports the Wall Street Journal.
According to the Financial Times, this means that the user can ask questions such as "Do I need a raincoat today?" and "How is Nasdaq doing today?"
The New York Times refers to the voice-recognition feature as a personal assistant:
Although the new phone is virtually indistinguishable on the outside from its predecessor, the iPhone 4, the company says it is packed with better technical innards, including a more advanced camera. The phone also includes a more powerful chip known as the A5, the same microprocessor that acts as the brains inside the iPad.
Fans were disappointed by the lack of design changes, and investors, reports The New York Times, followed suit— Apple stock has fallen 5 percent.
Tim Cook, CEO of Apple also explained that the new iPhone would run on two different cell networks, GSM and CDMA, allowing its operation worldwide, and will be available on the AT&T, Verizon and Sprint networks.
This was Cook's first time unveiling a product for Apple Inc. after former CEO Steve Jobs stepped down earlier last month.
Apple plans to sell an 8 gigabyte version of the popular phone iPhone 4 for $99, and will offer an 8 gigabyte version of the 3GS free with a two-year wireless contract.
According to the Wall Street Journal, phones that run on Google's Android software are top sellers in the market, though the iPhone is still the most popular individual smartphone.