Apple Inc. (NASDAQ:AAPL) will be launched by 2020 and are expected to presents stiff competition to iPhones. This is according to Loup Ventures’ Gene Munster. Munster, who enjoys a large audience from many of Apple watches, said the Apple Glasses will be an augmented reality (AR) wearable that would let users view digital content on top of the real world including information that users currently rely on iPhones to provide.
According to Munster, iPhone will hit its peak in 2019 before starting to decline after the introduction of Apple Glasses. Munster says iPhone revenue will grow at 15% in 2017 financial year and will account for 64% of the total revenue.
However Munster does not explain why sales might drop off, but the reason might be simple. Augmented reality glasses could offer features that are redundant on an iPhone, allowing users to interact with apps right on their faces without having to pull out an iPhone. He however says that iPhone revenues will start sinking by around 3% to 4% year on year between 2020 and 2022, with unit sales falling up to 2%.
According to Munster, Apple Glasses are expected to be the next big product from Apple. He adds that in the next 10 years, iPhone will still be on the market but with much reduced market share due to competition from Apple Glasses. Apple has in no way confirmed it’s working on smart glasses, but has discussed how it believes AR will play an important role in the future of technology.
Reports have however said that Apple plans to make augmented reality a key feature of its new mobile operating system long before 2020. It showed off some AR capabilities at the WWDC keynote earlier this month, when it also debuted its ARKit platform for software developers to create AR apps for iOS.
Apple is also said to have acquired SensoMotoric Instruments, a German company that makes “eye-tracking” technology, including glasses. Apple is however yet to confirm the reports. If Apple comes out with its own glasses, it won’t be the first big tech company to launch its own eyewear. Google debuted Google Glass in 2013