WCSU

Avie Schneider

Apple is entering the video-streaming race, taking on Netflix, Amazon, Disney and others with a monthly subscription of $4.99. The company also announced three new iPhones, even as their sales have been slowing.

Apple announced on Monday a new video-streaming service, Apple TV+, to compete with Netflix, Hulu, Amazon Prime and others. It also unveiled a new credit card, tied to Apple Pay, and Apple News+, a subscription news service.

The iPhone has traditionally been Apple's biggest moneymaker, but those sales have been slowing, so the company is looking to make services a bigger part of its business.