While introducing its most expensive iPhone ever, the $999-and-up iPhone X, Apple also cut the price of its smallest and most affordable handset, making it cheaper than ever to purchase a new model.
The iPhone SE can now be purchased for $349 for a 32-gigabyte model directly from Apple. The high-capacity 128-gigabyte version is available for $449.
The iPhone SE lineup was given a capacity adjustment in March of this year, doubling the storage from the models launched a year prior. At the time, the 32-gigabyte model cost $399, while the 128-gigabyte variant was $499.
Other than storage, the iPhone SE has remained unchanged since the hardware launched in 2016, with the same A9 processor, 4-inch Retina display, 12-megapixel camera, and absence of pressure sensing 3D Touch.
The price cut for the iPhone SE comes the same day that Apple unveiled the premium iPhone X, a top-tier model with a starting price of $999, which is the company's highest cost of entry ever. With the $349 cost of the iPhone SE, Apple simultaneously also made it the company's most affordable new iPhone ever.
It's a similar approach that Apple employed earlier this year in revamping the iPad lineup: The iPad Pro became more expensive with a $649 10.5-inch entry-level model, just a few months after the company introduced a capable 9.7-inch version that carries a budget price of just $329.
There have been rumors that the iPhone SE could get a refresh in early 2018, about two years after the handset was introduced. It is believed that the update would remain a budget-priced model focused on allowing Apple to capture new sales in emerging markets like India.