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Apple's Upcoming iPhone SE 5G Could Help Attract Over a Billion Android Users: JP Morgan

iPhone SE (2022) said to have the potential to lure nearly 1.4 billion low- to mid-end Android users.





Apple's upcoming iPhone SE 5G has the potential to attract more than a billion non-premium Android users, JP Morgan analysts said on Monday.

The company is expected to launch the iPhone SE with 5G capabilities in early 2022, according to media reports and the brokerage, with the analysts adding the model will allow Apple to target the mid-range smartphone market dominated by rivals such as Samsung Electronics and Huawei Technologies.

The upcoming smartphone has the potential to lure nearly 1.4 billion low- to mid-end Android phones and about 300 million older iPhone model users, the brokerage estimated.

"Apple's trade-in program 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 (roughly Rs. 20,400) to $399 (roughly Rs. 30,200) for the 5G iPhone SE, which is still very competitive," analyst Samik Chatterjee, rated five stars on Refinitiv Eikon for his estimate accuracy, said.

The iPhone SE currently starts from $399, compared with $799 (roughly Rs. 60,600) for the iPhone 13 and $999 (roughly Rs. 75,700) 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 the $3 trillion (roughly 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 wanes for most hardware products including smartphones, TVs and PCs.

The brokerage raised its estimates for fiscal 2022 iPhone SE unit sales to 30 million units and annual iPhone shipments expectations to 250 million units, 10 million higher than a year earlier.

JP Morgan raised its target price for Apple to a Street high of $210 (roughly Rs. 15,900) from $180 (roughly Rs. 13,600), according to Refinitiv Eikon.




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