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Report
Apple unveils new low-cost iPhone
The Street
Follow
2/19/2025
Apple is releasing a new low-end iPhone to replace the aging iPhone SE.
Category
🥇
Sports
Transcript
Display full video transcript
00:00
Details are out for the newest member of the iPhone family.
00:04
Apple is replacing its cheapest model, the iPhone SE,
00:08
with a new phone, the 16E.
00:11
The low-priced model goes on sale the final week of February
00:14
with a price tag of $599.
00:17
As hinted in the promo released by CEO Tim Cook,
00:21
this upgrade gets rid of the iconic Home button
00:24
that's been around ever since the first iPhone.
00:27
Instead, users will use Apple Face ID to unlock the phone.
00:32
The 16E also gets a modern touch
00:35
that includes a sensor notch at the top of the screen.
00:38
Besides cosmetic changes, the device runs
00:40
on the Apple A18 chip currently in use
00:43
in the higher-end iPhone 16.
00:46
This means this cheaper model doesn't sacrifice
00:50
on processing power.
00:51
Another thing not being sacrificed, access to AI.
00:55
The low-cost device can utilize
00:57
the power of Apple Intelligence.
00:59
In order to keep costs down,
01:01
Apple brought production of the iPhone cellular modem
01:04
in-house instead of buying it from Qualcomm.
01:08
There's also only one camera lens
01:11
versus the three on higher-end iPhones.
01:15
Apple normally waits until September to debut a new iPhone,
01:19
but sales of its most important device declined globally
01:23
in 2024.
01:25
While the new iPhones released last year were AI-ready,
01:28
customers were less than impressed with its capabilities.
01:33
Turning to markets this Wednesday,
01:35
the S&P 500 notched a fresh record-closing high
01:39
for the second day in a row.
01:41
Minutes from the Federal Reserve's January meeting
01:44
show policymakers were inclined to move slowly
01:47
on any more interest rate cuts.
01:49
They want to see if Trump's tariff policies
01:52
further add to a resurgence in inflation.
01:56
That'll do it for your daily briefing from New York City.
01:59
I'm Conway Gittins with The Street.
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