On Tuesday the company revealed what many had already suspected: The iPhone 5S and the iPhone 5C.
However, many investors were not expecting the 5C to cost so much, with an unsubsidized price of $549, Ciaccia said. This was much higher than the $399 or $450 price targets that some analysts had estimated.
The two phones feature new fingerprint technology and an improved camera software.Ciaccia went on to say that the phones will include an A7 64-bit chip, which will improve graphics and CPU speeds. Also included is an M7 chip, which has to do with fitness and motion. He added that the company also announced it would be working with Nike (NKE - Get Report). Ciaccia noted that the iPhone 5S would not be available for pre-order, but the 5C would be, starting Sept. 13. Both phones will be available on Sept. 20. Video.