Video: Here is what you need to know about the new Apple iPhone 11 models

Apple unveiled its iPhone 11 models Tuesday, touting upgraded, ultra-wide cameras as it updated its popular smartphone lineup and cut its entry price to $699.

The newest handsets come as Apple seeks to spur new upgrades in a slumping global smartphone market.

The new iPhones are "jam packed with new capabilities and an incredible new design," Apple chief executive Tim Cook told a launch event in Cupertino, California.

Phil Schiller, Senior Vice President of Worldwide Marketing presents the new iPhone 11 Pro at an Apple event in Cupertino, California. Reuters

The surprise from Apple was the reduction in the entry-level price at $699, down from the starting level of $749 for the iPhone XR a year ago even as many premium devices are being priced around $1,000.

iPhone 11 Factbox

-Unveils iPhone 11, with 6.1 inch display; available in six colors

-Has a dual camera at the back, 12 megapixel wide, ultra wide 12 megapixel

-Front camera is also 12 megapixel

-Will have a new night mode

-To feature latest A13 bionic chip

-IPhone 11 priced starting at $699

Apple additionally unveiled a more expensive "Pro" model of the iPhone 11.

It also set launch dates for its original video offering, Apple TV+, and its game subscription service as part of efforts to reduce its dependence on the iPhone.

Phil Schiller talks about the new iPhone 11 Pro and Max. AP

The TV+ service will launch November 1 in more than 100 countries at $4.99 per month and will include a "powerful and inspiring lineup of original shows, movies and documentaries."

Apple is featuring scripted dramas, comedies and movies as well as children's programs in the service, which will compete against streaming giants like Netflix and Amazon.

"With Apple TV+, we are presenting all-original stories from the best, brightest and most creative minds, and we know viewers will find their new favorite show or movie on our service," said Zack Van Amburg, Apple's head of video.

Apple said customers who purchase an iPhone, iPad, Apple TV, iPod touch or Mac will get the first year of the service for free.

Apple's Kaiann Drance talks about the new iPhone 11. AFP

The company's online gaming subscription service, Apple Arcade, will launch next week, offering exclusive titles for mobile and desktop users.

The new service, which will also cost $4.99 per month, will include more than 100 game titles made for Apple devices.

"You can't find these games on any other mobile platform or subscription service, no games service ever launched as many games, and we can't wait for you to play all of that," product manager Ann Thai told the Apple media event.

Apple also unveiled updates to its iPad tablet and Apple Watch smartwatch.