The budget 5G iPhone SE is predicted to excel in the Asian market.

• Apple CEO Tim Cook announced a 5G-compatible device starting at $429, along with a new iPad Air, Mac Studio computer, and Studio Display monitor at the Peek Performance Event.
• In developing countries, where Apple's other iPhones are considered expensive, the budget iPhone is predicted to perform exceptionally well, according to analysts.

On Tuesday, the company launched a variety of new products, with the iPhone SE being the most affordable option, which has sparked excitement among analysts.

Apple CEO Tim Cook announced a 5G-compatible device starting at $429, along with a new iPad Air, Mac Studio computer, and Studio Display monitor at the "Peek Performance" event.

The iPhone SE features Apple's A15 chip, a 4.7 inch LCD screen, and is priced at $399.

In developing countries, where Apple's other iPhones are considered expensive, the budget iPhone is predicted to perform exceptionally well, according to analysts.

Analysts at Cowen wrote in a note to investors that the iPhone SE's performance features make it a strong competitor against Android devices in price-sensitive markets.

The third generation SE could aid Apple in capturing additional market share among price-conscious consumers, particularly in Asia.

According to Cowen analysts, the new SE has the potential to succeed in markets like China and India, where competitors such as Oppo, Vivo, and Xiaomi dominate the mainstream market. They predict that Apple will sell 28 million SEs in 2022.

According to analysts at investment firm Wedbush, it is predicted that Apple will sell 30 million SE units.

According to Wedbush analyst Dan Ives, the A15 chip will make this smartphone the fastest and most powerful at its price range, leaving its competitors far behind.

According to Jeff Fieldhack, an analyst at Counterpoint Research, the device is expected to perform well due to its 5G network support, which aligns it with key competitors in the mid-end segment.

In Japan, the U.S., and China, it is predicted that the product will continue to sell well. However, the 5G compatibility will attract new markets in Europe and southeast Asia, where many consumers previously avoided purchasing due to the absence of 5G network support.

The iPhone SE has been a successful mid-range device for Apple, with the 2020 model accounting for 13% of overall sales during its launch year. It has maintained its popularity due to its appeal to both new iOS users looking to upgrade from budget Android devices and iPhone owners replacing older devices, such as the iPhone 8.

On Wednesday, in pre-market trading, Apple's stock increased by approximately 2% to $161 per share.