IPhone manufacturer Apple Inc. (AAPL) has decided coronavirus pandemic and global breakdown of economies won’t stop it from introducing new products in the market.
The tech giant launched a new low budget IPhone SE which will be going for $399. This IPhone is the first of the company’s second generation IPhones which will address the price concept which has ever remained an issue for the company since its products are perceived as expensive in the global market.
Since last year, revenue of Apple has been on a constant decline citing reduced sales, the company is seeking using new string of low budget IPhones to boost its revenue.
New IPhone SE will be available for purchase beginning April 24, going by its market price the IPhone will be starting a at a price less $50 price of the cheapest IPhone in the market which is IPhone 8 currently retailing at $449.
IPhone SE comes with a 4.7 inch display screen and a processor chip with processing speed equal to a majority of advanced IPhones including IPhone 11 pro.
The only shortcoming of the IPhone SE in comparison to other advanced IPhones, the SE doesn’t have Apple’s facial recognition tool used to unlock the phone, instead it will be using the fingerprint sensor similar to that of old model IPhones.
Additionally, IPhone SE is not 5G enabled which means Apple is yet to release a 5G enabled phone a scenario which leaves the company behind its industry peers including Samsung Electronics Co. (005930) and Huawei Technologies which have both released 5G enabled smartphones.
Contrary to Apple’s tradition of launching new devices in front of a huge congregation, the IPhone SE was unveiled without the large event due to restrictions against large crowds and stay at home orders issued by U.S authorities to curb spread of deadly coronavirus.