The company said that its improved screen as well as new colours justify the "pro" moniker, which has only ever been used on bigger devices.
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"This is the first phone that we've called pro," said Apple's Phil Schiller, as he unveiled the phone.
"For us that means it's the first device that pros can count on to get work done. But it's also a device for all of us who want the best product made, even if we're not a pro."
The iPhone 11 Pro costs $999 or $1,099 for the bigger "Max" version, the same price as the XS and XS Max they replace. Pre-orders will begin on Friday – at the slightly later hour of 5am pacific daylight time – and will all start shipping on 20 September.
The new phone comes in a number of colours, including a brand new green. And those finish are also matte, rather than the shiny gloss in previous versions.
It also includes three different lenses in the camera. As well as the normal one, and the zoom that arrived in recent iPhones, it also has an "ultra-wide camera" that can allow for images that take in twice as much as the previous phone.
The iPhone can take photos with all of those different cameras at once, Apple said, letting people choose either to zoom in or to use the new wider lens to take in the full detail. The three cameras are able to talk to each other, so that they are aligned ready for switching between the different lenses.
It also includes a feature called "Deep Fusion" which can use machine learning to take a variety of different photos at once and combine them into the best version of any photo. "It is computational photography mad science," said Mr Schiller, "it is way cool".
It also includes new video recording features, as well as updated editing tools to allow them to be adjusted after the fact. The phone has the ability to record through two of the cameras at once, and switch between the two even as video is being recorded.
Inside the phone is Apple's brand new A13 Bionic chip. The company said that will be vastly quicker than all of the chips it has made before, but that it can also work less hard to preserve battery life.
The iPhone 11 Pro can last four hours longer than the iPhone XS that it replaces; the bigger Max version can last five hours longer than the XS Max, Apple said. It will also come with a new more powerful charger to allow it power up more quickly.
Apple said there was also a variety of new features it did not have time to discuss, including upgraded material that gives it the strongest glass in a smartphone.
Even with hours left to go until the event, last-minute rumours are revealing what the new iPhone 11 might look like. Or, specifically, what it won't look like: according to numerous reports, the long-rumoured feature that would allow the back of the iPhone to work like a charger is not actually going to arrive with this phone.
The feature appeared to make sense: competitors like Samsung already have it, and it could be a useful way to charge up devices like AirPods or even other people's iPhones.
But according to reporters including the usually reliable Mark Gurman, that's not coming. And the reason why could be a little worrying and embarrassing for Apple:
"Have heard as well Apple has been having some issues with the reverse wireless charging for AirPods/Watch on back of the new high-end iPhones, despite it being planned," he wrote on Twitter. "This is a feature Samsung has had for months and would be Apple’s second miss on charging (AirPower) if true."
Some more last-minute rumours from usually reliable Apple reporter Mark Gurman, who has suggested new names for all three of those new phones:
(This is worth taking with a pinch of salt, however: names of devices, like prices, are known only by a very limited number of people with Apple and so leak less often. They're also not usually actually written on the boxes or anything, which means that they can be changed at the very last moment.)
And yet another rumour from Mark Gurman: there will be one iPad revealed on stage today, too.
At the moment, the entry-level iPad is 9.7-inches, so presumably this would replace that. It hasn't been updated since last year, so a refresh would make sense, and Apple has been gradually making its tablets bigger so an upgrade in screen real estate would also make sense.
iPads had been expected to be pushed into another event in October, however. So it's not clear whether one being announced would mean there are more to come next month, that something else will be coming at that October event – or that it simply won't happen at all, and today's show is the last we'll see from Apple this year.
One of the things we'll get to hear today is the release date for iOS 13. It brings a whole set of features – probably most obvious among them is the dark mode – but it also makes some smaller changes, too.
One of them is the way that it tries to protect your privacy. On the new operating system, the phone tries to alert you if an app is tracking your location, and asks you whether you really want to share that data with the app. (Android 10 also has a similar feature.)
That's probably going to be difficult for apps like Facebook, which have been criticised for the wealth of data they gather on things like location. Which is why the company has published a blog post ahead of the release, explaining why it does that.
"Facebook is better with location," the post, written by engineering director Paul McDonald, reads. "It powers features like check-ins and makes planning events easier. It helps improve ads and keep you and the Facebook community safe. Features like Find Wi-Fi and Nearby Friends use precise location even when you’re not using the app to make sure that alerts and tools are accurate and personalized for you."
Apple is not expected to include 5G support for the iPhone 11, meaning it will fall a step behind rivals like Samsung.
This may not matter for markets like the US and the UK, where 5G coverage is very limited, but it could have an impact on certain Asian markets.
Peter Jarich, head of mobile data firm GSMA Intelligence has been in touch to share his views on this:
Apple can’t rest on its laurels; its business success depends on it.
A lack of 5G support in the new iPhone won’t surprise anyone, though it will still disappoint operators looking for 5G devices to help them drive traffic to new 5G networks. At the same time, new features that are expected – improved camera functionality, improved processor, upgrade to Wi-Fi 6 – may all seem incremental rather than revolutionary, particularly if the product line and form factor line-ups remain relatively constant. In reality, form factor (and pricing) diversity, combined with a compelling case for customers to upgrade, is an important strategy for keeping the iPhone relevant for a broad set of smartphone users, while keeping sales robust. And as services continue to grow as a revenue source for Apple, it’s increasingly important for Apple to get iPhones into the hands of consumers.
The iPhone has come a long way since Jobs' 2007 keynote. One thing the late Apple co-founder probably didn't foresee was the current size of the current iPhone crop. He famously said about rivals opting for larger-screen devices: "No one's going to buy that."
iPhones have only grown in size since the original 3.5-inch version, with larger models now measuring almost twice that.
Looking forward, people are speculating about what iPhones might look like in 10 years. The expected addition of an extra camera lens on the iPhone 11 has led to some strange imaginings.