The strategy behind Apple's (AAPL) lackluster iPhone SE is paying off — Quartz

The strategy behind Apple's (AAPL) lackluster iPhone SE is paying off — Quartz

SO WHAT IF IT'S BORING The strategy behind Apple's lackluster iPhone SE is paying off Share In the past, a new iPhone has been cause for celebration, spurring long queues of people, sometimes camping overnight, in front of Apple Stores on launch day so they would be among the first to get their hands on the device. The iPhone SE, though relatively cheap at $399 to $499 in the US, was underwhelming. This was essentially the innards of the iPhone 6S jammed into the body of the now-dated 5S . While many were clearly disappointed, Apple saw the device as a way to capture a larger share of the lower-priced smartphone market. The strategy seems to be paying off. According to a June 15 report from Credit Suisse, the market for $500-plus phones has narrowed in recent years, comprising a smaller share of smartphones globally. The iPhone SE is Apple's ticket to seizing greater market share of cheaper devices. Of smartphones priced at $300 to $500,

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