Apple’s new budget iPhone is faster with 5G compatibility

Apple’s latest budget version of the iPhone, a third-generation iPhone SE is capable of connecting to ultrafast 5G wireless networks. According to the company, this upgrade has been available on the company’s upscale models for more than a year.

The latest iPhone SE marks the first upgrade to the bare-bones version of Apple’s most popular product in nearly two years. In the latest sign of the inflationary pressures that have been roiling the economy, the new iPhone SE will sell for $429, which is an eight percent increase from the $399 price tag for the last version that rolled out nearly two years ago during the early stages of the pandemic.

According to Apple, the new iPhone SE which will be available in stores from March 18 features the A15 Bionic chip — ‘the fastest CPU in a smartphone, as well as more durable screen, a longer-lasting battery than the last model, and a new single-lens camera system that produces more detailed, lifelike images.

Although the latest iPhone SE will feature a faster processor, more durable 4.7-inch screen and longer-lasting battery than the last model, the iPhone SE’s biggest selling points will likely be its compatibility with still-emerging 5G wireless networks and its relatively low price.

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Also, it comes in three colors: red, starlight, and midnight. Despite the price increase, the iPhone SE is still a sharp discount from the fancier iPhone 13 line-up released last year. Consisting of four different models, the iPhone 13’s prices range from $700 to $1,100. All of them, like the iPhone 12s released in 2020, can connect to 5G phones.

Even though 5G networks are not widely available, the charm for faster connections turned out to be a major draw that helped motivate more iPhone fans to upgrade from older models.

During Tuesday’s presentation, Tim Cook, Apple CEO stated that the company has been attracting more new iPhone users than ever before since last autumn, without providing specific numbers. “We are excited for the new iPhone SE to build on this momentum,” Cook said.

Dan Ives, Wedbush Securities analyst, expects Apple to sell about 30 million of the new iPhone SE models during the next year, filling a need among less affluent consumers who own one of the estimated 225 million iPhones that are at least three-and-half years old.