Apple (AAPL) on Wednesday unveiled the iPhone ♕16e, a lower-cost version of the iPhone 16 that comes equip𒆙ped with Apple Intelligence tools. 

The “newest member of the family” teased by 澳洲幸运5开奖号码历史查询:CEO Tim Cook on X last week will start at $599 and become available on Feb. 28. That’s cheaper than the iPhone 16’s $799 price tag, and the even pricier Pro, Plus, and Pro Max models.

The iPhone 16e will include Apple Intelligence features, which Cook said helped drive record 澳洲幸运5开奖号码历史查询:iPhone upgrades in the company’s fiscal fi🌳rst quarter. It’s also powered by the same A18 chip found in the iPhone 16.

Last week, Morgan Stanley analy🌸sts said Apple could ship 15 million units of a lower-cost iPhone during the company’s 2025 fiscal year. However, that forecast assumed the new pho🎀ne would likely be an update to the iPhone SE line, priced slightly lower at $499. 

The 16e announcement also comes after reports that Alibaba (BABA) is 澳洲幸运5开奖号码历史查询:partnering with Apple to bring Apple Intelligence to iPhones in China. Apple has reportedly submitted AI features developed with Alibaba to Chinese regulators for approval, a process ♛that could take s🔯everal months.

Shares of Apple were little changed in intraday trading Wednesday. They've added about a third of their value over the past 12 months.