It’s that time of year again: Apple is about to unveil a next-generation iPhone. A sixth revision to the world’s most beloved phone that just turned five is up for an announcement tomorrow at a media event in San Francisco. The last iPhone with Steve Jobs’s seal of approval arrives at an interesting time for Apple.
Earlier in the year, rival Samsung crushed both Apple and the embattled Finnish giant Nokia to become the world’s largest cell phone and smartphone maker by volume. The South Korea-based conglomerate’s flagship Galaxy S III handset has even managed to overtake the iPhone to become America’s best-selling smartphone in August.
With such massive pent up demand for the iPhone 5, a misstep of any kind would cost Apple dearly: the company owes nearly 70 percent of its fortunes to the iPhone. The iPhone biz is now worth more than all of Microsoft. And because the iconic smartphone is that huge, it poses a major litigation risk.