Apple 'California Streaming' Hardware Launch Event: Live Blog

Apple, Inc.'s AAPL first hardware event of the year titled "California Streaming" is underway this afternoon.

The event assumes importance because the tech giant is expected to announce the next iteration of its flagship product, widely referred to as the iPhone 13. Remember, iPhone fetches roughly half of Apple's revenues.

Rumors regarding the new iPhone, ranging from its name, specs, features and timing of launch, have been floating around long before the event. Consensus expectations are that the four variants of the model will come with the same specs as the corresponding versions of the previous iteration and have improved camera features. Wedbush analyst Daniel Ives has been sounding out a 1-terabyte storage option and lidars for the new iPhone model.

See Also: Is Now The Time To Short Apple?

Apple is also expected to unveil Watch Series 7 and possibly the third generation of AirPods. In the run-up to the event, it was rumored the ninth generation of Apple's low-cost iPads will make its appearance at the event.

The keynote event can be watched here at 1 p.m. ET.

Fo all the latest from the event, follow our live coverage below:

That brings us to end of the live coverage. Stay tuned in for a more detailed follow-up story on all the product announcements 2:18 pm: Cook summarizes the product announcements and thanks all those tuned in. Looks like investors aren't too pleased. Apple's stock has retreated further from the pre-announcement levels. 2:16 pm: all iPhones available for preorders from Sept. 17 and will be available by Sept. 24 2:16 pm: iPhone 13 Pro price starts at $999 and iPhone 13 Pro Max at $1,099 2:12 pm: New iPhone feature called ProRes Video coming later this year, can record up to 4k at 30 frames per second 2:08 pm: iPhone 13 Pro and iPhone Pro Max have ultra wide camera with auto focus and large aperture; new 77mm telephoto camera, boasts of 92% improvement in low light; the camera comes with Macro photography; It has smart HDR4, Photographic Styles for individual preferences; storage option up to 1 TB 2:02 pm: New super retina XDR display, ProMotion coming to iPhone for smoother graphics 2:00 pm: iPhone 13 Pro unveiled, made of surgical grade steel, resistant to corrosion, comes in four striking colors, two depth camera, front has touch ceramic, IP68 water resistant, to support Magsafe 1:58 pm: Cook gives introduction to iPhone Pro models 1:56 pm: iPhone 13 prices start from $799 and iPhone Mini from $699; trade-in can fetch you up to $700 off in the U.S., storage option 128 GB, 256GB, 512 GB 1:55 pm: Accessories for iPhone 13 include Magsafe battery pack, leather silicon cases 1:53 pm: iPhone 13 Mini has 1.5 hours longer battery life than the iPhone 12 Mini and iPhone 13 has 2.5 hours longer battery life than the previous generation's variant 1:52 pm: iPhone 13 comes with 5G and Apple will collaborate with more carriers across 60 countries 1:51 pm: Cinematic mode for videos on iPhone, which allows focus on the subject while the camera is moving, auto focus changing, all helping to create cinema grade videos 1:46 pm: iPhone 13 camera powered by A15 chip, all-new ultra wide camera with larger 1.7 micron pixels; 12MP sensor is larger to let in more light, and the sensor shift stabilization introduced in the iPhone 12 Pro Max is coming to the iPhone 13 and iPhone 13 mini. 1:44 pm: iPhone 13 and iPhone 13 Mini to come with A15 bionic chip using 5nm technology with 15 billion transistors, 6 core CPU 1:41 pm: iPhone 13 comes with sleek flat edges and in five colors, hooded camera, all features fitted within space 20% smaller 1:39 pm: Next-gen iPhone, the iPhone 13, announced; Apple after all isn't triskaidekaphobic 1:38 pm: Saving the best for the last? Now to the most-awaited unveil... Cook begins to talk about the iPhone 1:35 pm: Fitness+ Group workouts announced, supporting 32 people, to be available next month 1:33 pm: Fitness+ trainers elaborate on what will come with service, including fitness exercises, meditation, workouts etc. 1:32 pm: Apple says Fitness+ to be available in 15 countries and come with subtitled workouts 1:27 pm: Apple Watch Series 7 touted as more durable, comes with IP6X certification, water resistant; has 18-hour battery; charges 33% faster 1:25 pm: Apple Watch Series 7: new retina display, border reduced to 1.7 mm, shape refined, with corners having soft edges; 70% brighter 1:24 pm: Jeff, Williams, COO, announces next-gen Apple Watch 1:20 pm: iPad Mini priced at $499, orders can be done immediately and it will be available by next week. 1:18 pm: iPad Mini supports second-gen Apple pencil, and comes with folio cover 1:17 pm: 5G coming to iPad Mini, back camera with 12 mega pixels, front camera is 12 mega pixels ultrawide camera 1:16 pm: Apple announces big upgrade to its iPad Mini; it is to have narrow borders, elegant rounded corners, to come in four colors; size at 8.3-inches. New iPad mini is to have 40% more CPU performance and 80% higher GPU performance. It comes with the USB C-port 1:11 pm: New iPad starts at $329, to be available next week; it comes with A13 bionic chip and 12-mega pixel camera. 1:10 pm: Cook announces the new iPad; it comes with 'Center Stage' feature as with the iPad Pro, and True Tone. 1:04 pm: Cook chooses to talk about Apple TV+ first up and the new shows coming on it, including the 'Morning Show.' 1:03 pm: Tim Cook starts off with some good things about California 12:55 pm: Apple shares are modestly weaker heading into the event.