In commemoration of the iPhone’s 10-year anniversary, Apple has announced the release of the iPhone X, which will be in stores October 27^th.

Tim Cook unveiled the newest version of the iPhone at an Apple event on September 12^th. He described the new iPhone as the “biggest leap forward since the original iPhone.” However, the iPhone X is set at a record price level of $999, which is the same price as the MacBook Air.

Unlike the other iPhones, the X has a full front 5.8 inch screen with stainless steel and glass on the rear panel. Apple finally ditches their iconic home button; yet the most impressive parts of this new phone are in the software.

Apple has revealed that the X has facial recognition technology that allows users to unlock the phone by merely staring at it. Apple boasts that this technology will work despite changes in hairstyles, facial hair, or accessories such as sunglasses. The technology works by taking a three dimensional infrared image of the user’s face, which it continues to enhance every time the user uses the phone.

Apple says that Face ID will sync with Apple Pay, which could expand to other applications over time. The X also comes with a 12-megapixel-rear camera and a 7-megapixel front camera.

Although these major features are impressive, the $999 price tag is a major price jump from all other iPhones. The iPhone 8 and 8 Plus have also undergone price bumps, and each cost $699 and $799. The iPhone 7 and 7 Plus were $649 and $749 respectively.

It will be interesting to see how sales materialize in the coming months for these three devices.

These new highly-priced models will certainly test Apple's competitiveness and dominance in the market, especially for the X, which is valued at the same price as a laptop computer. It calls into question who the real target audience is for the iPhone X, and what Apple plans to do next with the iPhone.

Personally, I think the iPhone X is overpriced and is threatening to overreach into the tablet and laptop markets. This price tag certainly diminishes the desirability for a phone when you can get a laptop for the same price. Despite all of the new technology, this phone doesn't have enough features to combat its heavy price.

Smartphone technology has more or less plateaued in the past few years, and this presents a challenge for Apple to stand out amongst its competition. Apple is not only competing with the Android market, but also with its own--which is not growing as rapidly as it once did. Although the iPhone X boasts impressive specs, this might not translate into the momentum Apple needs in order to hold the reigns for this industry.