The 5G compatible iPhone SE with starting prize from $429 was announced by Apple’s CEO Tim Cook at the company’s Peek Performance event on Tuesday. Analysts got more excited with the launch of this iPhone in a reasonable budget that comes with A15 chip.
The iPhone SE is in the reasonable budget and analysts anticipate that it will sell well particularly in developing countries where other iPhones of Apple are quite expensive.
Analysts at Cowen wrote in a note to investors, “The performance features of the iPhone SE positions it well vs Android devices in cost sensitive markets. Third generation SE could help Apple to gain incremental share among price-sensitive consumers, especially in Asia. We believe the new SE can be effective in markets such as China and India where mainstream competition includes Oppo, Vivo, and Xiaomi.”
Analysts expect the sale of around 30 million SE units in 2022.
Wedbush analyst Dan Ives said, “Overall, with the A15 chip this smartphone will be the fastest and most powerful phone at these price points by a wide margin.”
Jeff Fieldhack, an analyst at Counterpoint Research said, “The iPhone SE will continue to sell well in Japan, the U.S. and China, while the 5G compatibility will open up new markets across Europe and southeast Asia, where many consumers stayed away due to a lack of 5G network support.”
Apple’s stock was up over 2% in pre-market trading on Wednesday.