Apple's New Budget iPhone Will Be Faster and More Expensive

Apple on Tuesday unveiled a new version of its budget-priced iPhone that’s capable of connecting to ultrafast 5G wireless networks, an upgrade that’s already been available on the company’s upscale models for more than a year.

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The latest iPhone SE marks the first upgrade to the bare-bones version of Apple’s most popular product in nearly two years. In the latest sign of the inflationary pressures that have been roiling the economy, the new iPhone SE will sell for $429 — an 8% increase from $399 price tag for the last version that rolled out it nearly two years ago during the early stages of the pandemic. The new iPhone SE will be available in stores March 18.

In a pandemic precaution, Apple still refrained from inviting the media and other guests to the in-person events that it has traditionally staged to introduce its latest products. Instead, Apple streamed the event from the theater named after co-founder Steve Jobs at its Cupertino, California, headquarters.

Although the latest iPhone SE will feature a faster processer, more durable 4.7-inch screen, and longer-lasting battery than the last model, its biggest selling points will likely be its compatibility with still-emerging 5G wireless networks and its relatively low price.

It’s a sharp discount from the fancier iPhone 13 line-up released last autumn. Consisting of four different models, the iPhone 13’s prices range from $700 to $1,100. All of them, like the iPhone 12s released during autumn 2020, can connect to 5G phones.