There was a muted roll out of Apple’s cheapest iPhone amidst the global COVID-19 pandemic. Apple is eyeing budget-conscious customers as they are offering iPhone SE at $50 less than iPhone 8.
The lower-cost model is touted to woo soaring number of consumers to the fore of Apple service. Notably, Apple’s shares dipped 0.8%, less than S&P 500 index decline of 2.1%.
According to reports, Apple may start taking orders for the phone on Friday on its website, while the delivery is expected to start from April 24.
It is worth noting that the unicorn company will retire the iPhone 8. The iPhone SE has a 4.7-inch screen and has the same processor chip, akin to the 11 Pro. That said, the iPhone SE does not have the facial recognition system to unlock the device as it will count on a fingerprint sensor.
Even though the iPhone lacks 5G connectivity, the new iPhone has features such as a high-end camera and wireless charging.
The U.S. political leaders are contemplating quashing the stay-at-home orders and fueling the economy. The announcement comes in the wake of COVID-19 pandemic which has engulfed the whole world.
Big events stand banned in Apple’s home base of Santa Clara County in California, which witnessed the first lockdown in the U.S. to derail the spread of the COVID-19.
Principal analyst for consumer market intelligence at Creative Strategies Ben Bajarin stated that the iPhone took the cognizance of customers purchasing older models, including iPhone 8, instead of the iPhone 11 Pro at $999, citing price-sensitivity as the major reason for the customer buying pattern.
The iPhone SE is foraying into the stiff competitive market in China where the company is said to have registered 17% of sales.