SAN FRANCISCO: Apple is expected to unveil three new iPhone models that are so similar to last year’s lineup, they may be upstaged by details about the company’s upcoming video service.
The company will show off its latest iPhones Tuesday at an annual hardware showcase. But the buzz surrounding its best-selling products has waned, as have sales, in the absence of compelling new features.
IPhone shipments are down 25% so far this year, according to the research firm IDC, putting more pressure on Apple to generate revenue from services such as music streaming, product repairs, revenue sharing from apps and ad commissions from making Google the default search engine. Revenue from services rose 14% to nearly $23 billion during the first half of this year.
And now Apple is getting ready to roll out a Netflix-like video service that will feature a slate of original programs featuring stars such as Oprah Winfrey, Jennifer Aniston, Reese Witherspoon and Jason Momoa. Apple provided a peek in March, but hasn’t specified when it will debut this fall or how much it will cost. Those details are expected to be revealed Tuesday, along with more information about a video gaming service called Arcade.
The company’s new phone models will likely mirror last year’s iPhone XR, iPhone XS, and iPhone XS Max. Prices are likely to stay at $750 to $1,100, before add-ons such as more storage. And they will likely have the same design — with more display space, less bezel and no home button — that Apple switched to with the iPhone X in 2017.
With little change, many customers who bought models in the past two years may hold off upgrading this year, analyst Patrick Moorhead of Moor Insights said.
The biggest difference is likely to be in the phone’s camera, an area that Apple and its rivals have all been trying to improve as consumers snap more pictures on their devices. Even there, improvements from year to year have been small.
This year, Apple is expected to add an extra camera lens to each model. The two pricier models already have a telephoto lens for better zoom. Now, they are expected to sport a wide-angle lens to capture more of a scene than regular shots. The cheapest model is expected to get one of those features, but it’s not clear which.
Even with those additions, the new iPhones may still be catching up with the improvements that rivals such as Samsung, Huawei, Lenovo and Google have been making to their latest phones.
Unlike some of the other devices coming out this year, the new iPhones aren’t expected to support upcoming ultrafast cellular networks known as 5G. Apple paid billions of dollars to settle a royalty dispute with chipmaker Qualcomm in April to gain the technology it needs for 5G iPhones, but those models aren’t expected to be ready until next year.
Besides iPhones, Apple is also expected to provide looks at the next versions of its Internet-connected watch and its video-streaming device, Apple TV. New iPads could also be in the mix.
Apple expected to unveil iPhones echoing last year’s models
Apple expected to unveil iPhones echoing last year’s models
- The company will show off its latest iPhones Tuesday at an annual hardware showcase
- IPhone shipments are down 25% so far this year, according to a research firm
Saudi Maaden reports 156% profit surge to $2bn on strong commodity prices, record production
RIYADH: Saudi mining and metals company Maaden has reported a 156 percent jump in its net profit attributable to shareholders for 2025, driven by higher commodity prices, record production volumes, and a one-off bargain purchase gain.
The state-backed giant posted a net profit of SR7.35 billion ($1.95 billion) for the full year 2025, an increase from SR2.87 billion in the previous year. The firm’s revenue surged by 19 percent to SR38.58 billion, up from SR32.55 billion in 2024.
This comes as Saudi Arabia steps up efforts to expand its mining sector as a pillar of economic diversification, encouraging international participation and private investment to unlock the Kingdom’s estimated $2.5 trillion in untapped mineral resources under Vision 2030.
In a statement on Tadawul, the company said: “Performance was led by record phosphate production, near record aluminum production, an increase in all three of Maaden’s main output commodity prices.”
The performance was also fueled by a 60 percent increase in gross profit, which reached SR14.79 billion. In its annual results announcement, Maaden attributed the top-line growth to “higher commodity market prices for phosphate, aluminum and gold business units,” as well as increased sales volumes in its phosphate and aluminum segments. This was partially offset by slightly lower sales volume in the gold unit.
Maaden’s CEO, Bob Wilt, hailed 2025 as a transformative year for the company, marked by strategic growth and operational excellence. “This was a great year for Maaden’s strategic growth. We delivered strong financial results and sustained operational excellence across the business,” he said in a statement.
“This was driven by growth in production across all businesses, including record-breaking DAP (di-ammonium phosphatevolumes), disciplined cost control across and a clear commitment to our role as a cornerstone of the Saudi economy,” Wilt added.
Profitability was further bolstered by an increased share of net profit from joint ventures and an associate. This included a one-off bargain purchase gain of SR768 million related to Maaden’s investment in Aluminium Bahrain B.S.C. The company also benefited from lower finance costs.
The fourth quarter of 2025 was strong, with Maaden swinging to a net profit of SR1.67 billion, compared to a loss of SR106 million in the same period of the prior year. Quarterly revenue rose 7 percent to SR10.64 billion.
The firm achieved record production of di-ammonium phosphate, reaching 6.72 million tonnes for the year, a 9 percent increase. Aluminum production remained near-record levels, while the company added a net 7.8 million ounces to its reportable gold mineral resources through discovery and resource development.
The phosphate division saw sales jump 17 percent to SR20.77 billion, with the earnings before interest, taxes, depreciation, and amortization margin expanding to 47 percent. The aluminum business reported a 9 percent increase in sales to SR10.99 billion, with EBITDA more than doubling in the fourth quarter.
Looking ahead, Wilt emphasized that the pace of growth will accelerate as the company advances key initiatives, including the Phosphate 3 Phase 1 and Ar Rjum projects, which remain on budget and schedule. Maaden has also secured a gas supply for its future Phosphate 4 project.
“This pace of growth will only accelerate. Not only as we advance projects and increase the scale of our exploration program, but as we continue to grow production and implement technology that will further modernize, streamline and unlock value,” Wilt added.
Earnings per share for the year rose sharply to SR1.91, up from SR0.78 in 2024. Total shareholders’ equity increased by 18.7 percent to SR61.59 billion.
