THE NEWS WRAP: Apple unveils two new iPhones, Apple Watch and Apple Pay

As expected, Apple has unveiled two new iPhones – the iPhone 6 and iPhone 6 Plus – and its new wearable device, the Apple Watch, which it is calling its “most personal device ever”.

Apple Watch features an iOS-based user interface, created specifically for a smaller device. Digital Crown serves as a new way to scroll, zoom and navigate fluidly, without obstructing the display. The Digital Crown also serves as the home button and a way to access Siri.

The watch’s Retina display features Force Touch, technology which senses the difference between a tap and a press. Bluetooth and Wi-Fi enable the watch to pair with its user’s iPhone.

It comes in three collections – Apple Watch, Apple Watch Sport and Apple Watch edition – and is available in two different sizes, 38mm and 42mm.

It also features Apple Pay, the company’s new mobile payments platform. However, this feature will only be useful in the United States for the time being.

Apple Watch will be available in early 2014 starting at $US349 and is compatible with iPhone 6, iPhone 6 Plus, iPhone 5, iPhone 5c and iPhone 5s running the latest version of iOS 8.

iPhone 6 and iPhone 6 Plus

Billed as ”the biggest advancements in iPhone history”, Apple’s new iPhone 6 and iPhone 6 Plus  feature 4.7 inch and 5.5 inch Retina Displays, and slimmer bodies than their predecessors.

They include an Apple-designed A8 chip with second generation 64-bit desktop-class architecture for fast performance and power efficiency, advanced iSight and FaceTime HD cameras.

The suggested prices of the two phones range between $US199 for the 16 GB iPhone 6, and $US499 for the 128GB iPhone  6 Plus. Both phones will be available in Australia beginning on Friday, September 19 and customers can pre-order both models beginning on Friday, September 12.

Apple Pay

Both phones will feature Apple Pay, the company’s new mobile payments platform that allows users to pay for physical goods and services in stores or apps.

Users can pay securely in stores simply by holding the phone near the contactless reader while keeping a finger on Touch ID. Apple Pay will be available to iPhone 6 and iPhone 6 Plus customers as a free update to iOS 8 in October. No word on if or when the company will make the service available in Australia.

Overnight

The Dow Jones Industrial Average is down 97.55 to 17,013.87. The Australian dollar is currently trading at US92 cents.