Apple Releases Cheaper iPhone as COVID-19 Restrains Spending

Apple is going to release a new iPhone that will be much cheaper compared to the models it rolled out last fall at the time when the economy was flourishing and the coronavirus pandemic had yet to push people to rethink their spending. The 2nd-generation iPhone SE introduced on Wednesday will be available for as little as $399, a 40 per cent decline from the most affordable iPhone 11 released last year. The higher-end versions of the iPhone 11 are available in more than $1,000. Online orders for the iPhone SE will initiate on Friday, with the first deliveries expected on April 24.

Apple Releases Cheaper iPhone as COVID-19 Restrains Spending

Even before the start of the pandemic, many people had started to baulk at the ample price tags for smartphones that weren’t up to the mark than the ones they already owned. That pushed the tech giant to step up its focus on music and video services to the more than one billion people who carry around at least one of their internet-connected devices.

High-priced devices are supposed to become an even tougher sell as the economy rushes into its deepest downturn in more than a decade.

Apple rolls out its devices many months in advance and the novel iPhone SE isn’t a direct response to the economic meltdown produced by the pandemic. Even though the iPhone SE will sell at a cost that seems right for the hard times ahead, it is an extraordinarily difficult time to introduce a product.

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The Wedbush Securities analyst Daniel Ives told that “Apple faced a tough decision to make and ultimately decided to release and green light this smartphone to the market in hopes of gaining contained success out of the gates,”.

New iPhones are typically rolled out with much fanfare at a Silicon Valley theatre named after Apple founder Steve Jobs, who transformed the market when he introduced the first iPhone in 2007. The springtime event never happened this year because of the coronavirus pandemic.