CNN - Apple launched its budget-friendly iPhone 16e for pre-sale in key markets today. The new smartphone, which costs $599 and is equipped with artificial intelligence, came in the same week that Chinese rival Huawei rolled out its flagship trifold phone in a rare launch event. Analysts say the mid-range pricing strategy aims to woo price-sensitive customers in countries like China and India and boost adoption in lower-end markets. But on a global scale, Apple still faces an uphill battle in luring new customers. Its smartphone sales have declined since peaking in 2022, and its global shipment share has fallen from 19.3% in 2023 to 18.2% last year, according to Counterpoint Research.
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