The role and importance of innovation is crucial in respect to new product launch and there has been significant such attention being placed by companies in achieving innovation in their products. In respect to Apple Corporation, it is identified as one of the highly innovative company that accounts for providing innovative products and services. Thus it is highly imperative that the newer products as launched by the company are likely to be highly innovative in nature. As in respect to iPhone 6, the launch of this phone also indicated that the company has attempted to maintain its reputation by way of offering innovative new features to its customers. There has been enhanced version of iOS being featured with this iPhone 6 and company has integrated touch sensor as well. The size has been quite larger as compared to previous iPhone and there is 3D touch feature also configured. These are significant such innovations that are integrated by the company in its new product offering and there has been significant such success being also achieved in terms of acceptability within the users. Thus innovation has been key criterion in respect to the iPhone as introduced by the company within its target audience (Rafinejad, 2007).

            An analysis of the viewpoints of other concerning the product has been identified and there has also been the assessment performed in respect to the innovation that is considered by the company in launching iPhone 6. However this section is aimed at performing an analysis of iPhione with respect to evaluating my own viewpoint. From my point of view, iPhone 6 is a latest smart phone introduced by the company and it is made available in different variants such as iPhone 6, iPhone 6S and iPhone 6S plus. The size of these phones differs and suits to different users as per their needs and expectations. In addition to this, in terms of quality is concerned, Apple phones are known for their best quality and this has been a significant factor that has been noted as highly efficient. Apple iPhones are quality and reliable and there is enough storage capacity that has also been provided. In terms of overall assessment of performance wise, this phone is evaluated as highly efficient. However the only major drawback that is identified is mainly in terms of lower level of battery backup, as iPhone accounts for huge consumption of battery power and thereby it is quite a major loophole noted in respect to iPhone 6 (Rafinejad, 2007). 

            The two key opportunities and challenges that are associated with the product are discussed as follows:

Opportunities: Good opportunity to Apple in achieving higher growth and success in its revenue performance and profitability growth and secondly, increasingly brand development and reputation as a result of introduction of such significant phone. (First Australian review: Hands on with the iPhone 6 and 6 Plus, 2014).

Challenges: The challenges are mainly to ensure that it is affordable for the customers amidst there are many such products that are already available in the market and secondly, the increasing competition in the market makes it difficult to Apple in surviving its iPhone 6 within its targeted customer (First Australian review: Hands on with the iPhone 6 and 6 Plus, 2014 )

A product development has different major stages and each such stage signifies important information concerning the product performance. The important stages of product development are introduction, growth, development and decline. These are important stages to product development and every product must pass in through these stages. As in respect to the opportunities for iPhone is concerned, the product development stage in which it can be categorised is the growth phase because iPhone 6 is achieving significant level recognition and acceptance within it. Apart from this, with respect to challenges are concerned, they can be classified as within the growth stage of product development because during the growth phase, because there are challenges that are also likely to be evident in achieving positive level of performance. Thus both the challenges and opportunities in respect to Apple iPhone 6 can be classified into that of product growth phase whereby the product is accounting to significant level of growth and development to the company in achieving higher level of growth. 

Apple iPhone Reviews, (2016) [Online]. Available at: http://www.gizmodo.com.au/2015/09/apple-iphone-6s-australian-review/ [Accessed: 21 March 2016]. 

Apple iPhone Reviews, (2016) [Online]. Available at: http://www.cnet.com/au/products/apple-iphone-6/ [Accessed: 21 March 2016]. 

First Australian review: Hands on with the iPhone 6 and 6 Plus, (2014) [Online]. Available at: http://www.news.com.au/technology/first-australian-review-hands-on-with-the-iphone-6-and-6-plus/news-story/fa979f995027ef9865e3a7b65c81e9d8 [Accessed: 21 March 2016]. 

Rafinejad, D. (2007). Innovation, Product Development and Commercialization: Case Studies and Key Practices for Market Leadership. J. Ross Publishing.  0