Apple unveils iPhone X in major product launch

Apple Inc on Tuesday rolled out its much-anticipated iPhone X, a redesigned product of glass and stainless steel with an edge-to-edge display that Chief Executive Tim Cook called "the biggest leap forward since the original iPhone."

The phone features wireless charging, an infrared camera and hardware for facial recognition, which replaces the fingerprint sensor for unlocking the phone. The home button found on previous iPhones is also gone, and users instead tap the device to wake it up.

The phone, which is priced at $999 and ships on Nov. 3, as well as the holiday shopping season that follows are the most important for Apple in years. The new phone's ship date raised questions about possible supply constraints ahead of the holidays.

Apple normally ships new products within a week or two of announcing them, though Cook said the later date was consistent with earlier guidance to investors.

"It's great to have a product but we'd have liked it sooner rather than later, more like the beginning of October or mid- October," said Kim Forrest, senior equity research analyst at Fort Pitt Capital Group in Pittsburgh.

Apple shares were last down 0.6 percent. They had traded as much as 1 percent higher during the launch event.