Apple Has Reportedly Started Production On iPhone 7
Apple ( AAPL ) may have started production of its next-generation smartphone, according to media reports. The 10th-generation handset, due out in September, is expected to come in three variants: the 4.7-inch iPhone 7, the 5.5-inch iPhone 7 Plus and the iPhone 7 Plus Premium (also called the iPhone 7 Pro), gadget news website MobiPicker reported Monday . The first two versions will be similar to the current iPhone 6S and 6S Plus, but the new premium model will have a dual-lens rear camera, tech news website BGR said Monday . As usual, contract manufacturers Foxconn and Pegatron are building the devices, BGR said. The iPhone 7 is rumored to be thinner than its predecessors and have an upgraded antenna design, speedier processor and no audio jack for plugging in headphones. Apple wants users to move to Bluetooth wireless headsets or wired headsets that use its multifunction Lightning port. Apple stock fell a fraction, to 93.49, on the stock market today . Consumers Delaying iPhone Purchases Consumers are postponing iPhone purchases ahead of the iPhone 7 launch, Canaccord Genuity analyst Michael Walkley said in a research report Monday. “While we anticipate a decreasing replacement rate through September as consumers delay upgrading their iPhones ahead of the anticipated iPhone 7 launch, we do anticipate recovering sales with the iPhone 7,” Walkley said. Walkley reiterated his buy rating on Apple stock, with a price target of 130. “Consistent with late-stage cycles of iPhones ahead of a new number launch, we also anticipate weaker iPhone average selling prices during the June and September quarters,” he said. The lower-cost iPhone SE, which launched on March 31, also is likely to pressure average selling prices, he said. RELATED: As Growth Investors Flee Apple, Warren Buffett Sees Value Soros, Greenlight Join Berkshire With Apple Buys; Facebook Slashed .