Apple announced a new color for the iPhone 7 and 7 Plus Tuesday morning and slashed prices on iPads, a move that comes after stock hit an all-time high.
The new red-colored aluminum finish for the iPhone is in recognition of more than 10 years of Apple’s partnership with Product Red. Apple (Nasdaq: AAPL) says a portion of each red iPhone goes toward the Global Fund, which supports HIV/AIDS programs.
The red iPhones will be priced the same as existing devices, but won’t be available in Apple’s lowest storage tier, 32 GB. The phones will range in price from $749 to $969. Apple says they’ll be available Friday, March 24.
Apple is also updating its iPad Air, now just called iPad, and shaving $70 off the price.
The company says that new iPad still has a 9.7-inch screen, but the display is brighter and its price starts at $329, down from $399.
Apple still controls about a quarter of the tablet market, but the market as a whole has been in decline after several years of rapid growth. According to IDC, tablet shipments fell 20 percent in the final three months of 2016, compared with the same period last year.
The $329 model has 32 GB of storage and operates via Wi-Fi. A $459 version that includes a cellular connection is also available. Apple’s iPad Mini 4 is still available with 128 GB of storage starting at $399.
The news comes as the company’s stock reached an all-time high Monday, closing at $141.46. Its previous peak was in 2015. The stock jumped in early trading Tuesday but dropped to just over $140 by the afternoon.
—Blue Sky Innovation staff and Associated Press
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