Apple spotlights services with TV, gaming and credit card offerings

Apple Inc attempted to reintroduce itself on Monday as an entertainment and financial services company that also makes iPhones as it launched a streaming television service, a credit card and an online gaming arcade.

With appearances by Oprah Winfrey and Steven Spielberg, the world’s second-most valuable technology company lifted the curtain on a television and film subscription service called Apple TV+ that will stream original television shows and films.

The star-studded line up failed to excite investors, who sent Apple shares down 1.2 per cent.

The company’s long-expected plunge into the streaming video war is years behind leaders Netflix Inc and Amazon.com Inc. Apple left out key details such as pricing, making it difficult to judge how its service will stack up against competitors.