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Apple is warning investors that its new and future products may never be as profitable as the iPhone. This revelation comes at a time when the company seeks to pursue newer technologies such as artificial intelligence and mixed reality headsets.
Apple added the warning in its latest release Annual report Under the “Business Risks” section, as I first mentioned before Financial Times.
“New products, services and technologies may replace or displace existing offerings and may produce less revenue and lower profit margins, which could materially adversely affect the Company’s business, results of operations and financial condition,” Apple wrote in the report.
The company is implementing consumer AI features into its products to compete with competitors like Google and Meta. Apple’s initial Apple Intelligence features launched last week, and the company has promised additional features, such as ChatGPT integration, in the coming months.
As for Apple’s Vision Pro headphones, the device has seen limited sales, likely due to its hefty price tag of $3,499.
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