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

San Ramon, CA — Apple announced on Tuesday a new version of an affordable iPhone that can connect to ultra-fast 5G wireless networks. This is an upgrade already available on the company’s luxury models for over a year.

The latest iPhone SE is the first upgrade in almost two years to the barebone version of Apple’s most popular product. The latest signs of inflationary pressures that are rocking the economy are the new iPhone SE, which will sell for $ 429. That’s an 8% increase from the previous version, which was launched nearly two years ago in the early stages, at $ 399. Pandemic. The new iPhone SE will be available in stores on March 18th.

As a pandemic precaution, Apple was still refraining from inviting the media and other guests to face-to-face events that were traditionally staged to showcase the latest products. Instead, Apple streamed the event from a theater named after co-founder Steve Jobs at its headquarters in Cupertino, California.

The latest iPhone SE has a faster processor, a durable screen, and a longer-lasting battery than its predecessor, but its biggest selling point is its compatibility with the still-emerging 5G wireless network and its relatives. It’s a low price.

This is a huge discount from the more sophisticated iPhone 13 lineup released last fall. Composed of four different models, the iPhone 13 ranges in price from $ 700 to $ 1,100. Like the iPhone 12, released in the fall of 2020, they can all connect to 5G phones.

5G networks aren’t widely available yet, but the appeal of faster connections turned out to be a major attraction that helped more iPhone fans upgrade from older models. According to research group International Data Corp, the iPhone 13 proved to be a very popular product, so Apple overtook longtime rival Samsung to become the world’s top-selling cloak for smartphones in the last three months of last year. became.

In a presentation on Tuesday, Apple CEO Tim Cook boasted that the company has been attracting more new iPhone users than ever since last fall, without providing specific numbers. “We’re excited to see the new iPhone SE build at this momentum,” Cook said.

In this handout, courtesy of Apple Inc., Apple CEO Tim Cook will unveil the all-new Mac Studio and Studio Display at a special event held at Apple Park in Cupertino, CA on March 8, 2022.

Dan Ives, an analyst at Wedbush Securities, said Apple will sell about 30 million new iPhone SE models by the end of next year and will own one of the estimated 225 million iPhones at least three and a half years ago. We expect to meet the needs of our customers. ..

Apple doesn’t make as much money as the more expensive models selling the iPhone SE, but the company still has the opportunity to sell subscriptions to music streaming, video streaming, games, and other services that are making huge money. To increase. , Said Tuong Nguyen, a smartphone analyst at Gartner.

“It’s all about expanding the ecosystem,” Nguyen said. “It’s always great when Apple can get you to buy a new phone, but it’s even better when they can get you to subscribe to everything they can because it turns into recurring revenue. . “

Apple’s services sector has grown exponentially, with revenues of $ 24 billion to $ 68 billion in 2016, the first year since the launch of music streaming services last year. The success of the company’s services will also be in the regulated mining sector, a bill that will provoke antitrust lawsuits and loosen Apple’s exclusive control over the iPhone app store, which collects favorable fees from digital transactions processed on devices. Proposed.

In this distribution, courtesy of Apple Inc., Apple CEO Tim Cook showcases the new iPhone SE with 5G and A15 Bionic chips at a special event held at Apple Park in Cupertino, CA on March 8, 2022. increase.

The iPhone itself is Apple’s largest gold mine, with last year’s sales of $ 192 billion, despite a supply shortage that reduced production. Apple said in January that these issues were alleviated as the pandemic disappeared and suppliers began to catch up with backlogs.

In addition to the new iPhone SE, Apple will use Tuesday’s showcase to sign a deal with Major League Baseball and video-subscribe to the game every Friday night after resolving a labor dispute that sports have already delayed the start. It was announced that it would start to be displayed in the season. The deal marks the latest advancement by leading tech companies into the niche of sports programming, traditionally dominated by long-established television networks.

Apple is also a new desktop version of a personal computer called Mac Studio, with processing units priced between $ 2,000 and $ 4,000. A premium display screen designed for Mac Studio costs an additional $ 1,600. The company also launched the latest version of its lightweight tablet, the iPad Air, for $ 600. All of these computing devices are powered by Apple’s own in-house chip.

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

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