Apple's 10th anniversary iPhone X sets a new gold standard for the next decade of iPhones. Coming hot on the heels of the iPhone 8 and iPhone 8Plus, the iPhone X steals the show despite sharing nearly identical internal hardware, according to digital trends.com, cell phone review.
According to the review, the X (pronounced "ten") is a beautiful, modern sculpture, and iPhone owners finally have a reason to show off their phones again.
Commenting on the new Apple iPhone X which is yet to be released was Professor Qing Wang, of Warwick Business School.
Professor Qing Wang said, the iPhone X represents Apple's second attempt at the 'new luxury' market after the failure of its gold Apple Watch.
"To date, Apple products seem closer to fashion goods than luxury goods. But with its latest attempt with iPhone X and its high price tag, in my view it is moving away from a technologiy brand to a new luxury brand, and this time it looks like it might pull it off," she added.
"It sounds expensive for a phone, but Apple is still a trendsetter in terms of design and aesthetics for technology officiandos, so its chances of success are much greater than its step into the luxury watch market, which saw its gold watch pulled less than a year after its launch," she said.
The only truly luxury mobile phone brand currently in the market is Vertu, which has a price tag of US$10,000, Wang said.
"Instead of competing with Vertu, this time Apple is pinning its hopes on the idea that there is a gap in the mobile market between the traditional luxury and the fast fashion products. This gap in the market is termed the 'new luxury', which is an emerging luxury category that the US companies seem particularly good at - Michael Kors, Coach and Tesla, to name just a few," she further commented.
Professor Qing Wang, is a Professor of Marketing & Innovation. She researches luxury brands and is Co-Director of the Warwick Luxury & Innovation Hub.