BUSINESS

Apple Inc. showcased its latest iPhones -- the iPhone 8, iPhone 8 Plus and iPhone X -- on Tuesday in a much-hyped product unveiling held for the first time at the Steve Jobs Theater at its Cupertino, Calif., campus.

An update of the company's signature gadget, now in its 10th year, was the most anticipated part of the keynote address, and it could have big ramifications for the smartphone industry as a whole.

There was news about the Apple Watch and the Apple TV too.

With iPhone 8 and iPhone X, Apple creates another tier of luxury

Apple announced two new lines of its flagship device, the iPhone 8 and the iPhone X, pictured here. (Marcio Jose Sanchez / Associated Press)
Apple announced two new lines of its flagship device, the iPhone 8 and the iPhone X, pictured here. (Marcio Jose Sanchez / Associated Press)

Do you want the newest iPhone, or the best iPhone?

Those two things are typically one and the same, with Apple’s latest phone being sleeker, shinier and more powerful than those that came before it. But with the announcement of the iPhone 8 and the iPhone X on Tuesday, Apple has created a tiered system: two phones, equally new, one of which is undoubtedly more powerful than earlier models, and another even more powerful than that.

It’s a strategy that may confuse some customers, but one that makes sense for a company reliant on its flagship gadget to generate revenue, analysts and business experts said.

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