Apple (AAPL.O) opens new tab launched on Wednesday a budget-minded phone with artificial intelligence, the iPhone 16e, designed to win back mid-market customers at home and in crucial growth markets China and India.
The new phone, which drops the SE naming convention for Apple's budget series, will take on popular Android smartphones at a time when rivals Samsung (005930.KS) opens new tab and China's Huawei are adding AI tools to their devices.
Sales of Apple phones dropped last quarter, and sales of its budget line of phones have plummeted as a proportion of iPhone revenue over the last decade.
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