Jonesian analysts: iPhone SE 5 G could draw over a billion Android users

The upcoming iPhone SE 5 G has the potential to draw more than a billion non-premium Android users, according to JPMorgan analysts.

According to media reports and the brokerage, the iPhone SE with 5 G capabilities is expected to launch in early 2022, with the analysts saying it will allow Apple to target the mid-range smartphone market dominated by Samsung Electronics and Huawei Technologies.

The upcoming smartphone has the potential to draw nearly 1.4 billion low- to mid-end Android phones and about 300 million older iPhone model users, according to the brokerage.

The trade-in program for non-iPhones is admittedly not as attractive as the iPhone trade-in values, but it could lead to an average starting price range from US $269 to US $399 for the 5 G iPhone SE, which is still very competitive, according to analyst Samik Chatterjee, who rated five stars on Refinitiv Eikon for his estimate accuracy.

The iPhone SE is priced at US $399, compared to US $799 for the iPhone 13 and US $999 for the iPhone 13 Pro.

Apple has had to keep pace with the global chip shortage and supply chain disruptions since launching the iPhone 13 range and new iPads in September.

Apple's shares have extended their march, with the company closer to US $3 trillion in market value.

In a separate note, JPMorgan said consumer demand for major upgrades like 5 G models is expected to remain strong and also a priority for supply, even though it wanes for most hardware products, including phones, TVs and PCs.

The brokerage has raised its estimates for fiscal 2022 iPhone SE unit sales to 30 million units and annual iPhone shipments expectations to 250 million units, 10 million more than a year ago.

According to Refinitiv Eikon, JPM raised its target price for Apple to a Street high of US $210 from US $180.