Apple is the margin-leading premium player when it comes to smartphones. But at its annual hardware launch event, the iPhone maker unveiled an aggressive pitch to expand its user base with new pricing options for the latest smartphones, iPads and Apple Watches.

The cost of buying a new iPhone has been climbing consistently — Apple unveiled the first $999 smartphone in 2017 followed by a $1,099 version in 2018 — as the market has matured, and the company had to find another way of making up for the gap left by fewer consumers upgrading or replacing their devices.

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