Apple’s upcoming 5G iPhone SE has the potential to attract more than a billion non-premium Android users, JP Morgan analysts said Monday. The company is expected to launch the iPhone SE with 5G capabilities in early 2022, media and brokerage say, with analysts adding the model will allow Apple to target the midrange smartphone market dominated by rivals such as Samsung. Electronics and Huawei. Technologies. The upcoming smartphone has the potential to attract nearly 1.4 billion low-to-midrange Android phones and around 300 million users of older iPhone models, the brokerage estimated.
“Apple’s trade-in program for non-iPhones is admittedly not as attractive as iPhone trade-in values, but it could still lead to an average starting price range of $269 (approximately Rs 20,400) to $399 (roughly Rs. 30,200) for the iPhone SE 5G, which is still very competitive,” said analyst Samik Chatterjee, rated five stars on Refinitiv Eikon for the accuracy of his estimate. and $999 (around Rs 75,700) for the iPhone 13 Pro.
Since launching the iPhone 13 line and new iPads in September, Apple has struggled to deal with global chip shortages and supply chain disruptions. Meanwhile, Apple shares have extended their march as the company nears $3 trillion (about Rs 2,27,72,115 crore) in market capitalization.
In a separate note, JP Morgan said consumer demand for major upgrades like 5G models is expected to remain strong and also a priority for supply, even as it declines for most hardware products, including smartphones, televisions and PCs. The brokerage raised its estimate of iPhone SE unit sales for fiscal year 2022 to 30 million units and expectations for annual iPhone shipments to 250 million units, an increase of 10 million than a year earlier.
JP Morgan raised its target price for Apple to a high of $210 (around Rs 15,900) from $180 (around Rs 13,600), according to Refinitiv Eikon.
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