Apple may have lost some of its pioneering mojo
Sept. 11 (Bloomberg) -- Apple Inc. fell the most in almost five months after unveiling two iPhones that were criticized by analysts and reviewers as lacking enough new features or a low enough price to attract a broad range of first-time users.
In a break with the past, when the company introduced one iPhone a year, Apple yesterday unveiled two new models. The iPhone 5C will cost $99 to $199 with a wireless contract and comes in five different colors. A high-end iPhone 5S with fingerprint-security features, a speedier processor and better camera will cost $199 to $399 and be available in three colors. Apple declined as much as 6 percent, making it the worst performer in the Standard & Poor’s 500 Index.
The devices underscore a shift in the $280 billion smartphone industry, as the novelty of Internet-connected handsets wears off and the gadgets share many of the same basic features. Facing increasing competition from rivals such as Samsung Electronics Co. that offer mobile phones in different designs and prices, Apple Chief Executive Officer Tim Cook is following suit and expanding his company’s own lineup to court more style-conscious customers and users in developing markets.