Apple recently launched the 4-inch iPhone SE and a mini 9.7-inch iPad Pro. Following the launch, the compact handset went on sale almost immediately. However, it reportedly accounted for a paltry 0.1 percent of the iPhone market in the first weekend sales, analytics firm Localytics reported.

As it turns out, this is the lowest first-weekend sales reported for any new iPhone released in the past five years. In comparison, the iPhone 6 apparently posted 2 percent early adoption rate, while the iPhone 6s managed to amass 1 percent.

Needless to say, the gradually waning iPhone sales signals trouble for Apple, and it worries the investors, stakeholders and the sky high expectations of the Wall Street.

Tim Cook decided to present the plan for future iPhones to mitigate the current gloomy situation and also to boost sales eventually.

Cook was recently interviewed by CNBC where he reportedly remarked that the next-generation of iPhones, also referred as iPhone 7 and iPhone 7 Plus, would be brilliant. He apparently insisted that the upcoming iPhones, currently under development, will definitely win over the current iPhone users to upgrade when the device gets released.

As noted by Tech Insider, Cook said the following: “We have great innovation in the pipeline, like new iPhones that will incent you and other people that have iPhones today to upgrade to new iPhones.” “We are going to give you things that you can't live without, that you just don't even know you need today...You will look back and wonder 'how did I live without this?” he added further.

Cook apparently noted that the slowing smartphone sales are not specific to Apple, but all OEMs are facing the same slowdown, especially in China. Not to forget, last quarter results saw the first-ever sales slump in the history of iPhones. But then, Apple managed to sell 51.2 million of iPhones anyway, Phone Arena reported.

So far, rumors specific to the upcoming Apple iPhone 7 and iPhone 7 Plus point to a dual-camera setup and stereo speakers onboard. These features are nothing new or earth shattering as many Android phones already have them onboard for years now. To top it off, analysts are vouching that Apple may not opt for a radical design change with the iPhone 6s successor, except for the upgradation to hardware and software.

Rumors suggest that the iPhone 7 will be able to get charged using wireless charging feature from a considerably long distance, without restricting it to charging pad. If this feature comes true, it is definitely one of the best aspects to look out for.

The Apple iPhone 7 is expected to be announced in the usual release cycle in September.