Apple iPhone sales have been dropping recently. Fewer and fewer people are willing to chunk out a thousand dollars for a phone. Amidst the weakened economy in the EU and the US, Apple must find a way to gain market share in the emerging markets.
Apple is reportedly planning to launch a new low-cost iPhone in 2020 that will help the company offset declines in iPhone sales, according to Nikkei.
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Apple has used this strategy before. The iPhone SE was introduced in 2016 and was priced at $399, hundreds of dollars cheaper than its other iPhones. That phone was nearly identical in design to the iPhone 4s which launched a couple of years earlier. Nikkei said it’s unclear what the more affordable iPhone will be called but that Apple will likely use the same 4.7-inch screen size as the iPhone 8.
The company still caters to a budget market, even if it no longer sells the iPhone SE, however.
At $499 the iPhone7 is Apple’s cheapest phone. The company is known for cheapening its phones as new models are released so the iPhone 8 might be falling to that price range when a new iPhone 11 debuts later this month.
The company is expected to introduce two new flagship devices to replace the iPhone XS and iPhone XS Max, and a new version of the iPhone XR.