(Reuters) – Apple Inc (AAPL.O) on Wednesday released a smaller iPhone priced at $399, cutting the starting price for the company’s smartphone line in a move to broaden its appeal to budget-conscious customers as the coronavirus hobbles the global economy.
The lower-cost model could also attract more consumers to Apple services, a growing driver of revenue. Shares of Apple fell 0.8%, less than the 2.1% decline of the S&P 500 index.
Apple will start taking orders for the phone on its website on Friday, with delivery of devices expected to start April 24.
The iPhone SE will start at $50 less than what was previously the cheapest iPhone available, the iPhone 8, which will be retired. The SE comes with a 4.7-inch display and the same processor chip as Apple’s most advanced phone, the 11 Pro. The SE lacks Apple’s facial recognition system to unlock the device, instead relying on a fingerprint sensor similar to older models. While the new iPhone adds features such as wireless…
Source Reuters Tech News
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