Apple’s new iPhone unveiled

Apple Inc introduced a pair of new iPhones Tuesday with upgraded features, but didn't stray far from its usual playbook to address concerns about intensifying competition from rivals such as Samsung Electronics Co, the Wall Street Journal reported 

The company's new flagship iPhone, the 5S, includes a faster processor and a new fingerprint scanner, but retains the same basic form as previous models. In a first, Apple added a second model to its lineup called the 5C—priced at $99 with a service contract—that repackages much of the technology in its previous-generation iPhone 5 in a new colorful polycarbonate case. Both phones, and some of the company's older devices, will get a free version of Apple's redesigned iOS software.

Apple's latest smartphone lineup, which contained few surprises, did little to directly match some of the factors that have fueled the global rise of Samsung and a bevy of handset makers usingGoogle Inc.'s Android software: cheaper devices and larger sizes. If Apple falls behind, it risks losing its status as a global trendsetter and ability to command higher prices.

As the world-wide market for smartphones has increased, Apple has lost market share, particularly outside the U.S. and among first-time smartphone buyers. Once the world's top smartphone maker by unit shipments, the iPhone's sales now account for 19% of the market, while Samsung represents nearly 32%, according to Gartner research. World-wide smartphone sales are expected to reach $290 billion this year, according to independent market analyst Chetan Sharma.