According to analyst Amit Daryanani, the new iPhone SE 3 5G is likely to be an extreme success and a strong source of revenue for Apple inc.

Daryanani states that the launch of the new budget smartphone will supply the momentum needed to carry the shipment of the 35 million devices within the first year. This prediction is based on data showing that the new phone will draw in consumers who are fond of the older models of iPhone, such as the iPhone 8 on which the new device is based on.

Compared to other budget smartphones in its price range of $719-$799 AUD, the iPhone SE boasts strong performance figures thanks to the inclusion of Apples A15 Bionic processor, which is the one used in their flagship iPhone 13.

This along with other upgrades such as 5G capabilities, camera improvements and large storage mean that the iPhone SE 3 may yield up to $20 billion USD in annual revenue for Apple, and make up 5% of the revenue projections for the Silicon Valley based tech company.

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Market performance of the older models of iPhone SE has been similar, with the new device expected to do even better as it draws in customers in the extremely popular mid-range smartphone market (the area in which their main competitor Samsung sell the most units – they are announcing the details of their latest range later this month).

If predictions are indeed true, Apple investors are likely to profit largely as Apple continues its reign on the high-end smartphone market while placing the foundations for its mid-range and budget smartphone segment.