At $699, the iPhone 11 is Apple's cheapest new smartphone since the iPhone 8. And that says a lot about changes in consumer habits and the challenges Apple faces — and how it's responding to them.
And that says a lot about changes in consumer habits and the challenges Apple faces — and how it's responding to them. Last year, the days of sub-$700 new iPhones seemed like they were a thing of the past. The iPhone XR cost $749, making it the most expensive entry level iPhone of all time. But this year, with the iPhone 11, Apple returned to the $699 price that it introduced in 2017 with the iPhone 8.
Recent weakness in China, because of the slowdown in the world's second largest economy, is partially to blame. But iPhone sales have been trending lower globally for several years.That's why Apple is looking to expand its base, offering a lower-cost device for the lower end of the market. The iPhone 5C, iPhone SE, iPhone 7, iPhone 8 and iPhone XR represent Apple's other recent attempts to offer a lower cost version of the iPhone.
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