:00:00. > :00:14.But the news. Sally has more business.
:00:15. > :00:26.But with more than a billion iPhones sold, can the latest version
:00:27. > :00:29.recharge a flagging formula for Apple?
:00:30. > :00:37.Sony reboots the PlayStation as it prepares to do battle with the Xbox
:00:38. > :00:43.Hello and a warm welcome to World Business Report.
:00:44. > :00:46.Also coming up: The latest trade data signals good news
:00:47. > :00:55.We start in San Francisco, where Apple has unveiled
:00:56. > :01:00.It's water resistant, with a faster processor
:01:01. > :01:05.and better camera, more memory and improved battery life.
:01:06. > :01:08.The big change, which was widely rumoured in advance,
:01:09. > :01:12.is that Apple is doing away with the traditional headphone jack
:01:13. > :01:16.to encourage buyers to invest in expensive wireless headphones.
:01:17. > :01:19.Apart from that, say the critics, it's the same old formula
:01:20. > :01:24.As of this summer, Apple has sold more than a billion iPhones since it
:01:25. > :01:26.launched the first model almost a decade ago.
:01:27. > :01:37.In the three months to June they were down 15% on last year.
:01:38. > :01:40.The smartphone market is slowing down, but Apple is also losing
:01:41. > :01:44.market share to cheaper versions from Chinese manufacturers.
:01:45. > :01:47.And it has failed to come up with new types of product to make
:01:48. > :01:52.Apple hopes new versions of its watch, also announced
:01:53. > :02:00.But some say Tim Cook is failing to keep up the pace of innovation
:02:01. > :02:02.set by his predecessor, the late Steve Jobs.
:02:03. > :02:05.Then there is the growing scrutiny of the company's tax affairs,
:02:06. > :02:14.culminating in a $14.5 billion demand from the EU last week.
:02:15. > :02:19.We'll be talking about some of this in a moment.
:02:20. > :02:23.First, our tech reporter Dave Lee was at the iPhone 7 launch and has
:02:24. > :02:33.Here we have it. The new iPhone seven. This one is in the jet black
:02:34. > :02:38.colour. There are few improvements. One of them is better camera
:02:39. > :02:42.technology, which stabilises in a way it did before. But the main
:02:43. > :02:46.thing people will notice is for the first time he will notice there is
:02:47. > :02:51.no headphone jack on the device. This has made it easier for them to
:02:52. > :02:55.make it more water resistant and dust resistant, but there is nowhere
:02:56. > :03:00.to put your headphones. You have a couple of choices. One is to have
:03:01. > :03:03.headphones that go into the lightning port. He may have used
:03:04. > :03:08.that to charge your phone in the past. You can now buy headphones
:03:09. > :03:11.that go into there. There's also an adaptor that will change or
:03:12. > :03:20.headphones to into there. A little bit ugly, though. Apple also want
:03:21. > :03:25.you to buy these, the new wireless pods. They look very much like the
:03:26. > :03:30.old earphones but of course our wireless. They just pop into your
:03:31. > :03:34.ears and connect directly to your phone in a way they promise is much
:03:35. > :03:38.simpler than using Bluetooth, because I find Bluetooth very
:03:39. > :03:46.difficult. This will retail at $159 which I think puts them a bit at
:03:47. > :03:50.risk of someone coming up to you and pinching them out of your ear. We
:03:51. > :03:52.will see if that happens. But this is the new development for the
:03:53. > :03:58.iPhone seven. Very interesting. Gavin Clarke is
:03:59. > :04:04.senior editor at an online website. Talk us through the new phone and
:04:05. > :04:09.the air pods and all of the various bits and bobs. You think it will
:04:10. > :04:12.boost flagging iPhone sales? It is difficult to say. It is a very
:04:13. > :04:18.saturated market at the moment, as you noted. Apple's on sales have
:04:19. > :04:21.been falling after record-setting highs last year. This year sales
:04:22. > :04:30.have slumped and of course there have been losing market share to
:04:31. > :04:34.their number one competitor Android running phone, Samsung. Will people
:04:35. > :04:40.want to go with cordless earphones? It is a big unknown at the moment, a
:04:41. > :04:46.big risk. I was going to say, is that a problem, the fact that this
:04:47. > :04:58.jackal and be there any more, so those expensive headsets? -- new
:04:59. > :05:02.jacks. There will be a socket for the phone that will allow you to
:05:03. > :05:07.plug your expensive headphones into that, but what they want you to do
:05:08. > :05:14.is buy those expensive earbuds and that is pretty much what Apple do.
:05:15. > :05:17.They will sell the watch but you have to get the phone to make it
:05:18. > :05:21.work properly. It has worked successfully so far. One of the
:05:22. > :05:25.other big trouble and is it is really expensive, so in markets like
:05:26. > :05:31.India and China where they have very good alternatives that are really
:05:32. > :05:35.cheap, it's a hard sell. Will the carriers, the middlemen, as it were,
:05:36. > :05:39.will be heavily subsidised this iPhone seven so we are encouraged to
:05:40. > :05:43.update our already pretty decent smartphones? I think the carriers
:05:44. > :05:54.will have reservations. I can the days of the early iPhone, people
:05:55. > :05:58.liked it because it was huge growth. Now we are looking at a saturated
:05:59. > :06:04.market and people will look for something unusual and identities are
:06:05. > :06:08.determined as to whether these earphones will make people spend the
:06:09. > :06:12.money. -- undetermined. Carriers might not want to do a massive
:06:13. > :06:17.subsidy, which means you are willing to upgrade. Yes. For all the talk of
:06:18. > :06:20.India and China this is for the developed states and maybe the
:06:21. > :06:24.Western European market. Thank you very much. I am sure we will talk
:06:25. > :06:25.about it all day. It's also been a big night
:06:26. > :06:27.for another technology giant. Sony has launched the latest version
:06:28. > :06:30.of its gaming console, the PlayStation 4 Pro,
:06:31. > :06:33.as well as a new slimmer version Will the re-boot give Sony the edge
:06:34. > :06:39.over Microsoft's Xbox as they battle Michelle Fleury was at
:06:40. > :07:00.the launch event in New York. She sent this report. The
:07:01. > :07:04.PlayStation is an important part of Sony's future so there was plenty of
:07:05. > :07:13.interest in the launch of its newest games consoles. The big on Vale was
:07:14. > :07:18.the PlayStation four Pro, high dynamic for a sharper and clearer
:07:19. > :07:26.picture. -- the big unveil. And there was a slimmer, cheaper model
:07:27. > :07:30.of the PS4. One of the features of the PlayStation four Pro is for us
:07:31. > :07:33.to future proof ourselves. Every industry trend says the great
:07:34. > :07:40.majority of televisions that will be sold over the coming years will be
:07:41. > :07:43.4K. So we are setting ourselves up to provide a longer and happier
:07:44. > :07:50.future for PlayStation for as a platform. This is the first time
:07:51. > :07:55.Sony has two consoles on sale with different graphic capabilities. Will
:07:56. > :07:59.it cause problems for developers? Does it make the process more
:08:00. > :08:05.complicated? Not really. We always try to push our resolution as far as
:08:06. > :08:09.we can and now we can reach that potential on PlayStation as well.
:08:10. > :08:13.Absent was any mention of Blu-ray technology, but the PlayStation four
:08:14. > :08:22.Pro will be able to stream 4K video. We've always been very clear right
:08:23. > :08:27.from day one that PlayStation four has been conceived and executed as a
:08:28. > :08:30.gaming platform. Sony hopes there is enough to persuade hard-core gamers
:08:31. > :08:36.to upgrade and help them beat competition from Microsoft.
:08:37. > :08:40.Let's talk about China. Some encouraging news when it comes to
:08:41. > :08:42.trade figures. Rico Hizon is following
:08:43. > :08:52.the story for us. New gadgets, exciting. Tell us about
:08:53. > :08:57.China. There are some signs that the Chinese economy may be turning the
:08:58. > :09:01.corner and it made the month of data. But analysts are quite
:09:02. > :09:06.positive about the numbers. It is for the month of August. Imports
:09:07. > :09:10.have risen by 1.5%. The first expansion in 22 months. This
:09:11. > :09:16.suggests the demand could be begin up. As for exports, they fell by
:09:17. > :09:21.2.8%. Less than market expected. As we know, Beijing has been its --
:09:22. > :09:26.aggressively pushing for domestically led growth as it tries
:09:27. > :09:31.to shift the way from export led expansion. If you take a look at the
:09:32. > :09:35.trends, mainland exports have fell for 13 out of 30 months due to
:09:36. > :09:40.sluggish demand and weak commodity prices. Imports have been in a long
:09:41. > :09:47.slump, falling since late 2014. Thank you so much.
:09:48. > :09:49.In other news: US firm Liberty Media has confirmed
:09:50. > :09:53.it is buying control of Formula 1 for $4.4 billion.
:09:54. > :10:01.It's taking over the stake currently held by private equity group CVC.
:10:02. > :10:04.Bernie Ecclestone will remain as chief executive, but Chase Carey,
:10:05. > :10:06.vice-chairman of 21st Century Fox, will become the new chairman.
:10:07. > :10:09.Liberty Media has stakes in sports and entertainment businesses
:10:10. > :10:10.including the Atlanta Braves baseball team.
:10:11. > :10:14.It is part of the world's largest TV and broadband company Liberty
:10:15. > :10:29.A lot more on that story on our website. Markets are pretty mixed,
:10:30. > :10:30.but the news about China trade boosted stocks in Asia. See you