Apple’s new budget iPhone will be faster and more expensive

San Ramon, California. Apple on Tuesday unveiled a new budget iPhone capable of connecting to ultra-fast 5G wireless networks, an upgrade that’s already been available on the company’s high-end models for more than a year.

The latest iPhone SE represents the first upgrade to the regular version of Apple’s most popular product in nearly two years. In the latest sign of inflationary pressures roiling the economy, the new iPhone SE will sell for $429 — an 8% increase over the $399 it last introduced nearly two years ago during the early stages of World War II. pandemic. The new iPhone SE will be available in stores on March 18th.

In a pandemic precaution, Apple is still refraining from inviting media and other guests to the in-person events it has traditionally organized to present its latest products. Instead, Apple broadcast the event from a theater named after co-founder Steve Jobs at its headquarters in Cupertino, California.

ad

Although the newer iPhone SE will have a faster processor, a more durable display, and a longer-lasting battery than the previous model, its biggest selling points will likely be its compatibility with emerging 5G wireless networks and its relatively low price.

It’s a sharp discount to the iPhone 13 lineup that launched last fall. The iPhone 13 comes in four different models, and its prices range from $700 to $1,100. All of them, like the iPhone 12s released during fall 2020, can connect to 5G phones.

Although 5G networks are still not widely available, the allure of faster connections has been a major draw that helped motivate more iPhone fans to upgrade from older models. The iPhone 13 has proven to be such a hot commodity that it helped Apple beat long-time rival Samsung and take on the mantle of the world’s largest smartphone seller during the last three months of last year, according to research group International Data Corp.

ad

During Tuesday’s presentation, Apple CEO Tim Cook boasted that the company is attracting more new iPhone users than at any time since last fall, without providing specific numbers. “We are excited about the new iPhone SE to build on this momentum,” Cook said.

Dan Ives, an analyst at Wedbush Securities, expects Apple to sell about 30 million new iPhone SE models over the next year, satisfying the need for less affluent consumers who own one of the 225 million iPhones that are at least three and a half years old. .

Although Apple doesn’t make as much money selling iPhone SEs as it does with more expensive models, it will still give the company more opportunities to sell subscriptions to music streaming, video streaming, games and other services that have become huge money makers,” said Tuong Nguyen, an analyst Smartphones at Gartner.

“It’s all about expanding the ecosystem,” Nguyen said. “It’s always a good idea for Apple to get you to buy a new phone. But it’s better if they get you to sign up for everything they can because that turns out to be a recurring profit.”

ad

Apple’s services division has mushroomed into a burgeoning business that generated $68 billion in revenue during the most recent fiscal year, up from $24 billion in 2016 — the first year after the music streaming service emerged. The company’s success in services has also shifted to the realm of regulatory mining, sparking antitrust lawsuits and proposed legislation seeking to loosen Apple’s exclusive control of its iPhone App Store, which collects lucrative commissions from digital transactions processed on the device.

The iPhone itself remains Apple’s biggest goldmine, with sales of $192 billion in the last fiscal year, though a supply shortage has curtailed production. Apple said in January that these problems were beginning to subside as the pandemic subsided and suppliers began catching up with the backlog.

ad

Along with the new iPhone SE, Apple also used Tuesday’s show to announce it had struck a deal with Major League Baseball to start showing two Friday night games each week on a video subscription after the sport resolved a labor dispute that had already delayed the start of the season. The deal marks a major technology company’s latest entry into sports programming that has traditionally been dominated by established television networks.

Apple also has a new desktop version of its PC called Mac Studio which will cost $2000 to $4000 per CPU. A premium display designed for Mac Studio will cost another $1,600. The company also introduced its latest version of its lightweight tablet, the iPad Air, for $600. All of these computing devices will be powered by Apple’s own internal chips.

Copyright 2022 The Associated Press. All rights reserved. This material may not be published, broadcast, rewritten, or redistributed without permission.