Apple is gearing up for its biggest product launch event of the year on September 10, when it will introduce the latest models of iPhones, watches, and AirPods, according to a report by Bloomberg News. The event date has not yet been publicly confirmed by Apple, but preparations are underway. The new iPhones are expected to become available for purchase on September 20, following Apple’s usual release pattern.

When approached for comment, Apple did not respond. Analysts are anticipating a significant upgrade cycle for the upcoming iPhone 16 series, driven by what is expected to be the most substantial software update for iPhones to date. This update will incorporate artificial intelligence features, aiming to enhance the user experience at a time when competitors like Samsung have been quicker to implement similar technologies.

The launch comes amid Apple’s forecast for continued growth, particularly through its investment in AI technologies. However, the company faces challenges, as its business in China, Apple’s third-largest market, declined by 6.5% in the third quarter—greater than the expected 2.4% drop, according to Visible Alpha. This underperformance highlights Apple’s difficulties in maintaining momentum in an increasingly competitive market, especially in a region critical to its global sales strategy.

At its annual developer conference in June, Apple introduced a new AI initiative called “Apple Intelligence.” This technology will be integrated across Apple’s suite of applications, including Siri, and it will also bring OpenAI’s ChatGPT to Apple devices. Despite these advancements, Apple remains heavily dependent on iPhone sales for revenue. Some analysts are skeptical that the integration of AI features will result in immediate significant gains for the company, given the long lead times typical in the adoption of new technology across broad markets.

Apple’s strategy, which has long been centered on hardware innovation, is now evolving to include a stronger emphasis on software and services powered by AI. The integration of AI into the new iPhones reflects a broader industry shift towards more intelligent, personalized, and adaptive devices. Apple’s ability to leverage these features successfully will be key to maintaining its competitive edge against rivals like Samsung and Google, both of whom are pushing the boundaries of AI in consumer tech.

Though the iPhone remains the backbone of Apple’s business, with the smartphone market maturing and global sales plateauing, the company’s focus on AI could signal a deeper transformation in its product offerings. This may position Apple to capture new revenue streams in the future, even if the immediate financial impact of these innovations may take time to materialize. The upcoming product launch is, therefore, not just a routine update but a pivotal moment for Apple as it looks to expand its technological horizon while addressing short-term market challenges.