By
Godfrey Benjamin
April 26th, 2024
While the company’s stock is on the rise, Apple is planning to release a new low-cost iPhone in March this year. Its production will begin in February.
Apple Inc. is already working on a new and cheaper iPhone. The new iPhone will enter its production stage sometime in February, according to a Bloomberg report. If all goes well, it will be released before the end of the first quarter of 2020.
Features of the New iPhone
Citing people familiar with Apple’s plan, Bloomberg has revealed a few features for Apple’s forthcoming offering. The report says that the phone will resemble the iPhone 8 which was released back in 2017. It will also come with a 4.7-inch screen.
If reports pan out, the new phone will be the first low-cost iPhone Apple will be released since the iPhone SE back in March 2016. The SE at the time was sold for $399 with 2017’s iPhone 8 still in the market for $449.
Further details include the possibility of a home button with Touch ID. Surprisingly, it will have the same processor as the recently-released iPhone 11, making it just as fast. However, the new phone will not come with other biometric features like Apple’s Face ID.
So far, there is no official announcement for a name and there have been no price suggestions as well. Bloomberg reached out to an Apple spokeswoman for confirmation but did not receive any official comments.
Apple’s 2020 iPhones
Last month, CoinSpeaker reported that popular Apple analyst Ming-Chi Kuo made a forecast about Apple’s plans for 2020. According to Kuo, Apple will release 5 new iPhone models before the end of 2020.
Kuo said that sometime in the first half of this year, there will be an iPhone SE 2. The unnamed iPhone described above just might fit Kuo’s December forecast. The forecast corroborates this report as Kuo said the new phone will have a 4.7-inch display. Kuo also predicted that the iPhone SE 2 will look like the iPhone 8 but will be faster as it will come with 3GB of RAM and an A13 chip.
While Kuo said the iPhone SE 2 will come with LCD display, the other 4 will be OLED screens. They include one with a 5.4-inch screen, another with 6.7 inches and two others with 6.1 inches. The other four will, however, be released sometime in the second half of 2020. Also, they will come equipped with a Qualcomm X55 modem and will have 5G capability as well.
Apple (AAPL) Stock
Apple is already having a great year so far. Earlier this month, we reported that AAPL stock not only hit a new record high, but has also jumped 100% over the last year. Also, between Christmas Eve and New Year Eve last year, Apple’s App Store made a total sales figure of over $1.4 billion. So far, AAPL is the best performer among FAANG stocks.
At press time, AAPL is trading at $318.62 after adding 0.65%. In the past 12 months, it has gained exactly 105.67% with a one month increase of 11.36% and 7.81% already, in 2020 alone.