Will Apple's budget-friendly phone be available next year? Media reports that the iPhone SE 4 will also be supported by Apple Intelligence

In addition to the iPhone 16, Apple seems to be targeting the budget market by preparing to launch a new generation of more affordable iPhone SE. On October 1st, Eastern Time, Bloomberg reported, citing sources familiar with the matter, that Apple is preparing to release a new iPhone SE early next year, as well as an upgraded version of the iPad Air and accompanying keyboard products. According to the report, the new iPhone SE will have two major changes compared to its predecessor. First, it will abandon the Home button and adopt a borderless screen design similar to the iPhone 14. The current iPhone SE 3 is closer to the iPhone 8, which was the last standard version of the iPhone with a Home button. The next generation iPhone SE 4 will replicate the design of the iPhone 14, with a notch screen at the top just like the iPhone 14. Secondly, the iPhone SE 4 will receive Apple's personal intelligent system, Apple Intelligence, just like the iPhone 16 series released in September, and will have artificial intelligence (AI) functions powered by Apple Intelligence. As for the new iPad Air, the report states that Apple will focus on internal improvements and will provide upgraded versions of the Magic Keyboard accessory for the 11-inch and 13-inch versions of the new Air, bringing some features of the iPad Pro keyboard to the low-end market. In addition, the report mentions that Apple may launch a new iPad mini at the end of this year, update the Mac mini, MacBook Pro, and iMac this year, and equip the MacBook Air, Mac Studio, and Mac Pro with the M4 chip next year. In addition to the above report, it has been recently revealed in other reports that the iPhone SE 4 will have the following upgrades: The design of the iPhone SE 4 is similar to the iPhone 14, with a first-time adoption of an OLED display screen, and a larger size of 6.1 inches, far exceeding the 4.7-inch LCD screen of the iPhone SE 3, aligning with the flagship iPhones. In terms of performance, the iPhone SE 4 is said to be equipped with the A18 chip that debuted in the iPhone 16 series released in September, and is expected to switch from Touch ID to Face ID, marking the complete abandonment of the Home button on the iPhone. Other upgrades mentioned in some related reports for the iPhone SE include: USB-C port replacing the Lightning connector. Introduction of the Action button first introduced in the iPhone 15 Pro. Apple-designed 5G modem. Upgraded rear camera with a 48MP sensor, replacing the 12MP sensor used in the current iPhone SE 3 RAM upgraded to 8GB, which is twice the 4GB of iPhone SE 3. In particular, expanding the RAM memory is crucial, as this will enable the iPhone SE 4 to utilize Apple Intelligence's AI functions. In terms of pricing, the current selling price of iPhone SE 3 is $429, which is $370 lower than the starting price of the iPhone 16 series standard version. The selling price of the iPhone SE 3 in the Chinese market is RMB 3499, while the lowest starting price of the iPhone 16 series is RMB 5999. There are reports suggesting that the iPhone SE 4 is expected to be priced in the RMB 3000 range. Some comments suggest that Apple's upgraded iPhone SE now looks more like a high-end iPhone product, which should help attract budget-conscious consumers and may recapture market share taken by brands like Huawei and Xiaomi. After news of the affordable iPhone SE surfaced, Apple's stock price narrowed its intraday decline on Tuesday, ultimately closing down 2.9%. On Tuesday, a Barclays report stated that a survey of the iPhone supply chain revealed that due to lower-than-expected demand, Apple may have reduced the production volume of the iPhone 16 for the quarter ending in December of this year. Mentioning the quarter ending in December, a major Taiwanese supplier's orders for key iPhone semiconductor components may have been reduced by 3 million units, indicating soft demand for the iPhone 16 globally. Following the release of the Barclays report, Apple's stock price fell nearly 4% intraday.