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Apple’s upcoming iPhone SE 5G could help attract billion-plus Android users- J.P.Morgan -Breaking

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(Reuters) – Apple Inc (NASDAQ)’s upcoming iPhone SE 5G could attract over a billion Android non-premium users, J.P. Morgan analysts stated Monday.

According to media reports and the brokerage the iPhone SE will be launched with 5G capability in 2022. The analysts believe that Apple’s model will help it target mid-range smartphones market, which is dominated by Samsung Electronics and Huawei Technologies.

Brokerage estimates that the upcoming phone could be used to attract almost 1.4 billion Android smartphone users with lower-to-mid-end specifications and around 300 million iPhone models older owners.

Analyst Samik Chatterjee gave five stars to Refinitiv Eikon to his accuracy in his estimations.

The iPhone SE is currently priced at only $399, as opposed to $799 for iPhone 13 Pro and $999 on iPhone 13 Pro.

Apple’s launch of the iPhone 13 series and new iPads was in September. Apple is trying to adapt to the supply chain disruptions worldwide and chip shortages.

Apple’s share prices have been climbing, as the company moves closer to $3 trillion in market capitalization.

J.P. Morgan also stated that major consumer upgrades such as 5G models are expected to continue strong. This is despite the fact that supply of most hardware products, including phones, televisions, and computers, has slowed.

The brokerage increased its fiscal 2022 iPhone SE unit sales estimates to 30 million units. Annual iPhone shipments are expected to be 250 million, which is 10,000,000 more than the previous year.

According to Refinitiv Eikon, JPM has increased its target price of Apple to $210 (from $180), according to JPM.

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