Fast Company says new iPhone 9 will retail for $399

A new report has suggested that Apple’s new iPhone 9 will retail for $399 in the US.

Though that figure has already been banded about by insiders such as Apple analyst Ming-Chi Kuo, this is the first time an organization such as Fast Company has shared its thoughts on Apple’s pricing structure for its new low-cost smartphone, rumored for March.

The affordable smartphone is designed to serve as the spiritual successor to the iPhone SE, released in 2016, designed to appease price-conscious consumers and international buyers.

Now, Fast Company has confirmed that Apple will retail the new device for $399, according to its own sources that are inside of Apple’s iPhone supply chain in China and elsewhere.

When released, the iPhone SE served as a low-cost version of the iPhone with 16 GB of storage and respectable specifications, such as Touch ID and an Apple-powered chip.

2020’s version of the iPhone SEO will reportedly sport the same design as the iPhone 8, come with Touch ID, and be packed with at least 64GB of RAM and an Apple 13 processor.

As iPhone sales begin to fall, offering a low-cost smartphone to sit alongside its high-end devices, which start from $699 and go above $1,000 in the United States, will help the firm attract more users back to iOS, and further penetrate price-conscious markets like India.

And with a greater focus on services, like Apple TV+ and Apple Arcade, offering a low-cost iPhone that can power the latest games and be updated with new iOS versions for several years will benefit Apple, encouraging consumers to subscribe to services and deliver returns.

What are your thoughts on this latest rumor? Are you looking forward to Apple’s affordable smartphone? Let us know on Twitter and check back soon for more news and rumors.

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Everything Apple, every day. This post was written by an AppleMagazine newsroom writer.