Apple's new streaming service targets Netflix, Amazon Prime

Apple’s Netflix-like video service to cost only $4.99 launching Nov. 1

In markets like India, where Apple has slightly over 1% market share, the attractive pricing of iPhone 11, further price cuts of older models and availability of new services might help Apple improve their position. Apple's planning to add more shows and films each month, and says certain shows kicking off its Apple TV+ service will premiere with three episodes and release a new one each week, while other series will be made available all at once. The iPhone 11 features a dual rear camera setup while the iPhone 11 Pro and the iPhone 11 Pro Max feature a triple rear camera setup.

But that's not it.

Apple undercut the competition in the burgeoning streaming video war when it announced a $5.99 monthly price tag for its subscription service in Canada. And they will likely have the same design - with more display space, less bezel and no home button - that Apple switched to with the iPhone X in 2017. The selfie camera is also a 12-megapixel module that comes with slo-mo video capabilities and video recording of up to 4K resolution at 60 frames-per-second (FPS).

Apple has also sweetened its deal by offering buyers of an iPhone, iPad or Mac a free year of streaming TV service, opening the service potentially to hundreds of millions of viewers in more than 100 countries.

Apple also introduced an iPhone 11 Pro and larger-screened iPhone 11 Pro Max that will have starting prices of USD999 and USD1,099 respectively when they are available on September 20.

For years, the iPhone represented the majority of Apple's sales, but the company has seen the numbers drop. Apple TV+'s low price point is obviously meant to compete with Disney+, which will cost $6.99 per month and launches November 12.

"We weren't expecting Apple Arcade and particularly Apple TV to be priced as aggressively as they were", Mr Bajarin said. Apple also failed to announce several products and features that had been widely reported ahead of the event, such as two-way wireless charging for its phones.

Apple announced on Tuesday that it will debut its Apple Arcade service for iOS on September 19, for iPadOS and tvOS on September 30, and for macOS Catalina in October. Apple provided a peek in March, but hasn't specified when it will debut this fall or how much it will cost.

Apple just shook up the entire streaming world by unveiling the price point for their new streaming service, and nearly immediately their competitors took a major hit.

However, on Tuesday, analysts were less sure, with some predicting that consumers will hold off on upgrading their phones until next year, when Apple is expected to unveil a 5G iPhone that can run on faster fifth-generation wireless networks. Its first shows will start to air next month and Cook previewed another new series - called See - based on the premise of the whole of mankind having become blind but two babies are born with eyesight.

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