Apple is rumored to launch an iPhone SE in 2022 with 5G support for the first time and some J.P. Morgan analysts have said that it has the potential to pull over a billion Android users.

The phone is expected to be launched early next year and will be targeting the mid-range market in order to better compete with rivals Samsung and BBK Electronics, both of which together hold around half of the smartphone market share.

J.P. Morgan estimates that the upcoming smartphone could lure nearly 1.4 billion low to mid-range Android phone users and about 300 million older iPhone model users (via Reuters).

“Apple’s trade-in program for non-iPhones is admittedly not as attractive as the iPhone trade-in values, it could nonetheless lead to an average starting price range of $269 to $399 for the 5G iPhone SE, which is still very competitive,” analyst Samik Chatterjee, rated five stars on Refinitiv Eikon for his estimate accuracy, said.

Further, the brokerage firm raised its estimates for fiscal 2022 iPhone SE sales to 30 million units and annual iPhone shipments expectations to 250 million units, which is 10 million higher than this year. Apple is also expected to inch closer to the $3 trillion mark in terms of market capitalization.

The only challenge here remains potential demand and supply issues.

Currently, the iPhone SE is priced starting at $399, which is only a fraction of the iPhone 13’s $799 and the iPhone 13 Pro’s $999 price tags. The phone’s 2022 model is expected to feature the same design it currently has, again making it near-identical to the iPhone 8 from 2017. Its display will thus likely be 4.7-inches in size surrounded by thick bezels. The upgrades will mainly be in the processor department as the 5G-supporting iPhone SE 2022 might sport either the A15 or A14 Bionic.

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