Apple's new budget iPhone will be faster and more expensive

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Posted at 3:03 PM, Mar 08, 2022
and last updated 2022-03-08 18:03:21-05

SAN RAMON, Calif. (AP) — 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 has been available on the company’s upscale models for more than a year.

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. That's an 8% increase from $399 price tag for the last version that came out nearly two years ago.

The new iPhone SE will be available in stores March 18.

Even though 5G networks still aren’t widely available, the allure of faster connections turned out to be a major draw that helped spur more iPhone fans to upgrade from older models. 

During Tuesday’s presentation, Apple CEO Tim Cook boasted the company has been attracting more new iPhone users than ever before since last autumn, according to the Associated press.