Because of the complexities in manufacturing its new OLED screen, "the relatively high prices of the iPhone X are a necessary and important mechanism to control demand in the near term", Mr Wood added, calling the $999 cost a "super premium" to other smartphones and the rest of Apple's line-up. Many Android phones, including Samsung's, already have this. The new iPhone 8 devices launch on September 22 and are the type of iterative upgrade we've come to expect.
Cook announced that the Apple Watch is now the "the number one watch in the world", and he presented a video of voices from customers - supposedly from emails and letters - about how the Apple Watch is helping them live healthier lives. However, there's not a lot of video in 4K and HDR yet, nor are there many TVs that can display it. Apple TV doesn't have its own display and needs to be connected to a TV.
The iPhone 8 will be available very soon.
But that could all change, now that Apple's newest Watch has LTE built in.
Other new features in iOS 11 include Apple Pay integration in iMessage, a new Siri voice and interface that gives you the option of typing into the virtual assistant instead of only speaking, and a redesigned App Store with separated Games and Apps sections.
IHS Markit said India is an interesting market, and one where Apple is looking to grow, in part through domestic production.
According to Tech Radar, "It's a name that makes some sense, simultaneously highlighting the phone's high status and giving a nod to it being the tenth anniversary of the iPhone, with X, of course, being the Roman numeral for 10".
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"This move is also consistent with Apple's image in important emerging economies as an exclusive handset and as the real thing, despite the availabiligy of much cheaper imitations". It is about $40 less than the iPhone X, though still more expensive than the iPhone 8 and iPhone 8 Plus.
Apple has supposedly been working on an updated model of the existing iPhone 7 and 7 Plus - rumored to be called the iPhone 8 and iPhone 8 Plus, and both could be introduced this morning.
Apple's keynote and product launch event is being streamed online on Apple's website, and can be viewed using the Safari or Windows Edge web browsers, or on devices running iOS7 or later.
Since the original watch's debut in April 2015, Apple has been trying to enable more stand-alone features.
Going by Apple's traditional iPhone release formula, the brand spanking new iPhones should go on sale a week after the model has been revealed to us.
Apple's hugely anticipated launch of its new iPhone models was preceded by a clamour of excitement - exacerbated not least by the venue in which the event was to take place. Series 1 is now priced at $249.
Apple TV will be able to show Internet programming in 4K-just like Roku and Amazon Fire TV. The new SF comes out next week, on September 19.