UPDATE: Apple is turning it up to 11.

Apple officially unveiled its new iPhone lineup at a closely watched media event at its Cupertino, California, headquarters on Tuesday. The updated models include the iPhone 11, with a more affordable price tag, and the higher-end iPhone 11 Pro and iPhone 11 Pro Max.

The iPhone 11 Pro and iPhone 11 Pro Max models feature an improved camera system, with three cameras on the back of the phone, and better battery life than previous models. Apple says the iPhone 11 Pro will last four hours longer than the iPhone XS and the iPhone 11 Pro Max will last five hours longer than the iPhone XS Max.

Tim Cook, Apple's CEO, called the Pro models "the most powerful and most advanced iPhones we have ever built, with a stunning design."

The company also unveiled a new seventh-generation iPad at the event Tuesday, with a larger 10.2-inch retina display and a price tag starting at $329. The previous model had a 9.7-inch screen. And it announced the Apple Watch Series 5, an updated version of its smartwatch with an always-on display. With this feature, the watch face is always visible, rather than requiring the user to raise his or her wrist.

The Series 5 watch starts at $399, or $499 with cellular. The Series 3, an earlier version, will now retail for just $199.

Apple kicked off the event by focusing on its premium subscription services, a product area it is increasingly betting on to grow revenue and offset sales declines in its core iPhone business.

Apple unveiled pricing and additional details for Apple Arcade, its gaming subscription product, and Apple TV+, a new streaming service for original shows and movies. Apple Arcade and Apple TV+ will each cost $4.99 a month.

At a time when some of its competitors are launching innovative but riskier concepts, such as Samsung's foldable smartphone and its two 5G devices, Apple is expected to stay the course. That, too, may be risky. The iPhone business — still Apple's single biggest moneymaker — has been lackluster at best of late. Revenue from iPhone sales has declined by double-digit percentages in recent quarters.


PREVIOUS STORY: Apple's biggest media event of the year is about to kick off.

Apple is expected to unveil its latest iPhone lineup at an event Tuesday, which will take place in its Cupertino, California, headquarters. The new lineup will reportedly include the iPhone 11 Pro, the iPhone 11 Pro Max and the iPhone 11, replacing the XS, XS Max and XR models.

None of these devices are expected to look radically different from those released last year.

At a time when some of its competitors are launching innovative but riskier concepts, such as Samsung's foldable smartphone and its two 5G devices, Apple is expected to stay the course. That, too, may be risky. The iPhone business — still Apple's single biggest moneymaker — has been lackluster at best of late. Revenue from iPhone sales has declined by double-digit percentages in recent quarters.

The iPhones won't be the only new products on display Tuesday. Apple could also announce updates to other hardware products, including the Apple Watch, iPad and MacBooks.

The event will kick off Tuesday at 1:00 p.m. ET/10:00 a.m. PT. CNN Business will be on the ground reporting on all the latest.

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