According to reports, tech-giant Apple is likely to launch iPhone SE with 5G capabilities in early 2022. The model may target mid-range smartphone buyers worldwide, especially the customers who continue to use older models of Apple iPhones.
The report, first released by JP Morgan Chase and Co., a global financial analyst firm, stated that the upcoming iPhone SE 5G would lure 1.4 billion low-to-mid-end Android buyers and about 300 million older iPhone users. The average starting price of the model is expected to range from $269 to $399, which is still competitive.
Samsung currently dominates the mid-range smartphone market in India. The players like Oppo, Realme and Motorola are launching new models in the budget segment. Hence, Apple may take some time to penetrate the Indian mid-segment market, even if it does.
The price of the existing iPhone SE starts from $399, compared with $799 for iPhone 13 and $999 for iPhone 13 Pro. Apple took a hit on its production front primarily due to chip shortage and disruptions in the supply chain.
In another related report, JP Morgan stated that the number of consumers awaiting to upgrade to 5G smartphones increases. The financial firm estimated 30 million sales for iPhone SE units in 2022. Annual iPhone shipment is expected to cross 250 million units, 10 million higher than the previous year.
Apple iPhone SE 5G Features
The rumours state that Apple iPhone SE 5G will feature a similar form factor as the current iPhone SE and showcase a 4.7-inch LCD display. Under the hood, the smartphone is likely to feature an upgraded processor, although it is unclear if the processor will be iPhone 12 A14 Bionic chip or iPhone 13 A15 Bionic chip.
Apple has become the world’s most valuable company
Meanwhile, Apple Inc’s market value hovered slightly lower than the $3 trillion mark on Monday and turned it into the world’s most valuable company. The company’s journey from $2 trillion to near $3 trillion in market value took 16 months. The pace of growth is fast, considering that the company took two years to reach $2 trillion from $1 trillion. Among the new revenue lines, Apple Car, along with apps and Apple TV, is expected to make revenue additions for Apple in the upcoming year.