New York —

For the better part of the last decade, sharper cameras, bigger screens and longer battery life have defined annual smartphone upgrades.

But that may no longer be enough to dazzle consumers – at least not in Apple’s opinion.

The company on Tuesday announced the iPhone Air, the first major design overhaul to its flagship product in nearly a decade. An Apple executive described it as being “so thin and light, it seems to disappear in your hands” during the company’s keynote presentation.

The iPhone Air’s debut comes as Apple’s hit product, and smartphones more broadly, are in need of a refresh. The smartphone market has finally rebounded after years of slumping sales, dragged lower in part by a lack of compelling new features. That means consumers are holding onto their sm

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