Many eyes are now on Apple’s 10th anniversary event for the iPhone, which is expected to be held next month. There, Apple is set to introduce major upgrades for the next iPhones, which could stoke our appetites again for the gadget. Or not.

Chief among the changes for the new iPhones: refreshed versions, including a premium model priced at around $999, according to people briefed on the product, who asked to remain anonymous because they were not authorized to speak publicly. Apple made room for a bigger screen on that model by reducing the size of the bezel — or the forehead and the chin — on the face of the device. Other new features include facial recognition for unlocking the device, along with the ability to charge it with magnetic induction, the people said.

Here’s a look back at the last 10 years of why the iPhone still has us in its grip — so much that people keep coming back for more.

Eoin Treacy's view

Rather than think of the iPhone as a product iteration it is probably better to describe it as an ecosystem. The phone itself represents a hefty initial outlay but the AppStore, while generating considerably less revenue, acts as an anchor for the brand because apps are transferrable between phones of the same brand but push up the cost of switching. 

$999 is a headline grabbing figure and will give some people pause but it is also a product of phone prices which have been edging higher over the last 18 months. The new Samsung Note 8 released this week carries a $930 price tag for example, up from around $800 last year. That high sticker price also allows for better discounting so the end user feels like they are getting a bargain when they pay $650 for a new phone. It is interesting that Andy Rubin’s (the founder of Android) new phone, the Essential, has debuted at $699. These higher prices are also a differentiator with much lower cost smart phones from Chinese and Indian manufacturers.

Apple broke out to new highs in February and the advance paused in May. The share hit another new high earlier this month but has been ranging since, probably in anticipation of what to expect from the new phone. A sustained move below the trend mean would be required to question medium-term scope for additional upside.

Despite the fact Samsung has been making headlines for a bribery scandal the share bounced two weeks ago from the trend mean with the UK listing finding support in the region of $1000.