New York  —  Apple announced the first major redesign of the iPhone in years on Tuesday when it confirmed the launch of a new, thinner model called the iPhone Air. CEO Tim Cook called it the “biggest leap ever for iPhone.” That was one of a number of product upgrades that came during Apple’s annual hardware event at its Cupertino, California, headquarters, which also included improvements to the Apple Watch and AirPods Pro. The iPhone maker had teased the event with the phrase “awe dropping” — a nod to the fact that the pressure for Apple to impress with its latest devices was especially high this year. iPhone sales have been bumpy for years, Apple has fallen behind competitors on artificial intelligence and the company has been caught in the crosshairs of President Donald Trump’s trade wars. During Tuesday’s event, Apple seemed to double down on its hardware leadership, noting how its new devices could enable AI features without making its “Apple Intelligence” the star of the show. And analysts were impressed. “Apple’s iPhone 17 Air was the headline announcement, reflecting the company’s push to prove it can still differentiate through design,” Emarketer analyst Gadjo Sevilla said in emailed commentary following the event. “It’s a reminder that Apple’s competitive advantage remains rooted in product experience rather than raw AI as a product.” With the new iPhone lineup, “there is an iPhone for everybody at a reasonable price,” tech analyst and PP Foresight founder Paolo Pescatore said in an email. Still, Apple shares (AAPL) were down around 1.5% following the event, bringing the stock down nearly 4% since the start of this year and suggesting that even a new model may not be enough to wow shareholders. That could be because some of the new releases and features Apple announced on Tuesday are trailing similar offerings previously released by rivals. For example, the iPhone Air will compete with Samsung’s thin Galaxy S25 Edge model, which was announced in May.