UPDATE - Apple unveils iPhone 7, iPhone 7 Plus

ADDS APPLE STOCK INFO, CAMERA SPECIFICS, APPLE WATCH

By Barry Eitel

SAN FRANCISCO (AA) – Apple chief executive Tim Cook debuted the new iPhone 7 series on Wednesday, explaining that the latest smartphone is water resistant, includes two cameras on the Plus model and features no headphone jack.

The launch also included a newer line of the 2014 Apple Watch, called Series 2, including a special Nike+ version. Like the phones, the smartwatches are also water resistant, equipped with features designed specifically to appeal to runners and users seeking more freedom on the go.

Apple shares remained virtually motionless after the launch, rising a mere 0.6 percent.

The lack of a headphone input is probably the largest change from the current version of the famed phone, the iPhone 6S. Every iPod, iPhone and iPad has included a headphone jack, but now Apple is throwing its support behind wireless headphones.

Phil Schiller, the company’s senior vice president of worldwide marketing said the company had the "courage to move on" in removing the jack. New earbuds can plug into the input also used to charge the iPhone 7, and an adapter for older headphones and earbuds will be included with each new iPhone. Apple believes the future of music is bending toward wireless headphones, though, and the company debuted a new pair of cordless earbuds called AirPods.

“It is the best iPhone we have ever created,” Cook said at the keynote, echoing similar statements he has made about other iPhones in the past at the annual event.

In terms of design, the iPhone 7 and the larger iPhone 7 Plus are very similar to the iPhone 6S, featuring a slim body and rounded edges. However, Apple’s iconic “home button” at the bottom of the iPhone 7 has been redesigned to be more sensitive to pressure, similar to the trackpads used in Apple’s MacBook laptops. The device is also available in a new “jet black” color that is darker than previous iterations.

The iPhone 7 also includes a faster processor and a better camera than older models. The 7 Plus’ two cameras can function as complementary focal lengths, one wide-angle and the other telephoto, or can work in concert for better-rendered out-of-focus areas.

The new iPhones officially launch Sept. 16 in 28 countries and the starts at $649. Notably, the base version is 32 gigabytes, not 16GB of most other iPhone releases. The Apple Watch shares the launch date and carries a price tag starting at $369.

*Anadolu Agency correspondent Canberk Yuksel contributed from New York.