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16.04.2020

Apple reveals new budget iPhone after delay

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The updated version of the iPhone SE will be available for pre-order beginning this Friday and ships to customers on April 24

Stocks impacted: Apple Inc (AAPL)

Apple introduced its budget iPhone model after the production schedule of the new device was delayed by nearly a month amid a coronavirus outbreak as most iPhone suppliers' production facilities are located in China. The company announced a new version of the iPhone SE which is seen as an effort to broaden its customer base. The second-generation SE model starts at just $399 in contrast with iPhone 11 Pro Max which starts at $1099. The updated version of the iPhone SE will be available for pre-order beginning this Friday and ships to customers on April 24. The company hopes that a lower-cost model could also attract more consumers to its services, a growing driver of revenue. US shares of Apple fell 0.9% on Wednesday after a decline by over 1% a day earlier.

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