Apple is the margin-leading premium player when it comes to smartphones. 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 last year — 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. The company has made a concerted effort to boost its offering in services, from music and gaming to movies and streaming TV, in a bid to ensure existing customers stick with the iPhone and to better lure potential customers into its widening ecosystem.
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