The company is expected to launch the smartphone in early 2022
Apple’s iPhone SE 5G has the potential to attract more than a billion non-premium Android users, JP Morgan analysts said.
The company is expected to launch the iPhone SE with 5G capabilities in early 2022, according to media reports and the stockbroking firm, whose analysts predict the model will allow Apple to target the mid-range smartphone market dominated by rivals such as Samsung Electronics and Huawei Technologies.
The coming smartphone has the potential to lure nearly 1.4 billion low- to mid-end Android phone users and about 300 million older iPhone model users, the stockbroking firm estimated.
“Apple’s trade-in programme for non-iPhones is admittedly not as attractive as the iPhone trade-in values, it could nonetheless lead to an average starting price range of $269 to $399 for the 5G iPhone SE, which is still very competitive,” said analyst Samik Chatterjee, rated five stars on Refinitiv Eikon for his estimate accuracy.
The iPhone SE currently starts from $399, compared with $799 for the iPhone 13 and $999 for the iPhone 13 Pro.
Since launching the iPhone 13 range and new iPads in September, Apple has scrambled to keep up with the global chip shortage and supply chain disruptions.
Meanwhile, Apple’s shares have extended their march, with the company inching closer to $3 trillion in market capitalisation.
In a separate note, JP Morgan said consumer demand for major upgrades such as 5G models is expected to remain strong, even as it wanes for most hardware products including smartphones, TVs and PCs.
The stockbroking firm has raised its estimates for fiscal 2022 iPhone SE unit sales to 30 million units and its annual iPhone shipments expectation to 250 million units, 10 million higher than a year earlier.
JPM raised its target price for Apple to a high of $210 from $180, according to Refinitiv Eikon.
(Except for the headline, this story has not been edited by The Technology Express staff and is published from a syndicated feed)
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