APPLE'S iPHONE ASTEROID

RESEARCH firm IDC expects worldwide smartphone shipments to decline 0.7 percent in 2018 to  1,455 billion units, with growth likely to resume as 5G devices become available.

''We still believe the smartphone market has some healthy growth in the years to come, although finding and competing in those markets and segments is increasingly more challenging,'' said IDC analyst Ryan Reith.

Apple has sold more than a billion iPhones since the first model was unveiled by late co-founder  Steve Jobs in 2007.

The company is in the unique situation of controlling the hardware and software in the mobile devices, with content for users required to grow through the App store that takes a percentage of revenue. 

Finding New Streams : With  smartphone market  showing little room for growth, Apple has been working to diversify its revenue streams with  software, services and other devices including its smartwatch.

The event may see the Apple watch getting its first significant  redesign since its launch three years ago.

''I think that in the long run the  watch will be so much larger business than people give it credit for, where  Apple  can iterate  and grow,'' analyst  Stephen Baker of NPD said.

Apple chief executive  Tim Cook has touted  fitness and health  features of the  company's  smartwatch , which dominates that market.

The  culture-changing  company  behind the  iPod, iPhone and iPad hit a historic milestone last month,  becoming the first  private sector company to surpass  $1  trillion  in market value.

The landmark was the  latest  victory for  Tim Cook, who faced skepticism when he took over as  chief executive  in 2011 from Jobs just before his death. [Agencies]