Apple Inc. could be launching a budget iPhone SE successor mid-April, Daniel Ives, an analyst of Wedbush, wrote Monday. He was able to get this information by reading supply chains and from leaks from multiple retail websites.
Apple was expected to reveal the new iPhone in March, but it seems to have been pushed back because of the COVID-19 outbreak. This new phone could be called the iPhone SE2 (most probably) or the iPhone 9. Ives stated that “While launching a mid-cycle budget/entry-level smartphone into the backdrop of a consumer global lockdown and unprecedented pandemic will be a head-scratcher to some, we note that Apple is viewing this as a low-volume, low-touch release with little fanfare as the phones are already ready to ship.”
Monday, Apple shares were back up 5%, although they’ve lost 14% this year so far. The Dow Jones Industrial Average has declined 23% so far this year as well.
Although it does seem strange that they are releasing this phone now, it does fit into the current economy. With people out of work or having fewer hours, they have a budget. Apple has a chance to sell this cheaper iPhone, resulting in better than expected sales. Thus creating a marketing plan that isn’t too bad at the moment. A budget iPhone will also allow cheap entry into the Apple ecosystem, something that has been missing for many years now. What do you all think about this strategy? Let us know in the comments below!
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