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Virtual Fitness Service Aimed At Work-From-Home Consumers Rolled Out By Apple

Virtual Fitness Service Aimed At Work-From-Home Consumers Rolled Out By Apple
In its latest expansion of its services business that has become the backbone of the company’s growth strategy, iPhone maker Apple rolled out its new virtual fitness service along with the a host of all its subscriptions, by the name of Apple One, as the company aims to target a holiday-season product launch on services and aimed at people who are working from home because of the novel coronavirus pandemic.
A new Apple Watch Series 6 that monitors blood oxygen was also launched by the company along with lower priced Apple Watch SE.
Including television, music and games, the price of the Apple One bundle has been fixed at $15 per month for an individual and at $20 per month for a family. At a monthly fee of $30, Apple’s new service is also offering news along with the fitness service and more storage.
Apple Fitness+ service, powered by its watches, was also introduced by the company and which will deliver virtual workouts for $10 per month or $80 per year.
After Apple's announcement, there was a 3.6 per cent rise in the shares of exercise stationary bike maker Peloton Interactive Inc which also offers a subscription based service.
For most of the workouts that will be offered by Apple will require no equipment or some minimal gear such as a set of dumbbells, the company said. In comparison, either a bike or a treadmill is required for the workouts of Peloton.
The feature of monitoring blood oxygen levels in the Apple Watch is a ploy by the company to match those offered by the fitness watches offered by rival Fitbit Inc, which is being acquired for $21.1 billion by Alphabet Inc's Google.
Aimed at education customers, a faster chip to its base model iPad has also been added by Apple. With the look of the iPad Pro models, the new iPad Air form apple will cost $599. It will have a new A14 processor chip which will be the first to use a 5-manometre chip manufacturing process, Apple said.
Markets and analysts expect launch of new iPhones to be made by the company next month following comments made previously by the company’s executives about the possibility of a delay in the launch by several weeks due to the disruptions caused by the Covid-19 pandemic.
Even with the pandemic hitting the global economy hard, Apple’s stocks have soared so far this year partly because of a surge in the sale of its work-from-home aiding products.
Despite a drop in its share prices form the highs they attained earlier this month, the market valuation of the company remains close to the $2 trillion mark.
According to analysts, the fate of Apple’s performance for its entire fiscal year, which started this month, will be dependent on the performance and sale of the company’s new products during the holiday shopping season in many markets.

Christopher J. Mitchell

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