Apple's iPhone reveal is not going to drive a replacement cycle, says Needham's Laura Martin

For more on Apple's product launch, let's bring in Neamm senior entertainment and media analyst Laura Martin. Laura, great to have you with us. You said this whole thing was very disappointing.Maybe your expectations were too high. They delivered on everything that everybody really expected, which wasn't much granted, but what they're doing is they're fighting to maintain their their installed base. They've gone on to defense.If you don't have innovation, you can't raise price. And as the genius that just s ...