Apple, Inc AAPL A decade and a half later, the iPhone is still his cash cow after its introduction. According to Bloomberg, Cupertino’s next big product could rival the iPhone Markus Gurman.

Apple’s vision for MR headset: Some Apple executives overseeing the launch of the mixed-reality headset believe the product could eventually replace the iPhone as the company’s “branded product,” Gurman said in his weekly “Power On” newsletter.

Apple’s vision for the product is hardware that can be worn all day, anywhere, replacing the need to carry a phone or type on a laptop, the Apple specialist said. Although it’s pricey at $3,000 for the first headset, it would give consumers a taste of that “enticing vision,” he added.

Gurman expects the first MR machine, likely called the Reality Pro, to hit the market in 2023. This would feature several new technologies such as dual 4K displays, a flexible OLED screen on the front that shows a user’s eyes, and a dozen cameras that can analyze the wearer’s body, eye movements, and the external environment , he said.

On the other hand, according to Gurman, the MR headset could be impractical and too expensive for most consumers. Some of the issues he outlined are the device only lasting two hours per charge and not performing well outdoors, a design that some find uncomfortable, and the likelihood of launching with a limited selection of content.

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A change of strategy: By the time Apple launched its earlier hardware products, there was already general interest in the products, and the company just needed to produce something better and beat the competition, Gurman said. Because AR/VR headsets are still a young field, consumers need to be persuaded to adopt them, he said.

He noted that the iPhone sold a million units in the first 28 days of its launch and more than 10 million units in the second year, and sold 15 million iPads in the first eight years…