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Apples new iPhone SE: In with new and in with the old as well?

It was a week ago when I found myself scrolling through my YouTube subscriptions and stumbled upon a video from a famous Youtuber called iFixIt, who took apart the iPhone to showcase its internals to us subscribers to know the difference between this and the previous models they were releasing.

(On the left is the iPhone 8 and the right is the new iPhone SE)
https://mjtsai.com/blog/2020/04/22/iphone-se-2020-reviews/

Although it is noted that the new iPhone has the same lens system as the iPhone 8, which was created 3 years ago, due to its new image signal processor ISP of the A13 chip inside, the image quality is a lot better than what it once was. With the smaller body comes a smaller battery, but given its new and efficient processor from the current model iPhone 11s, it is a lot more efficient with battery life in comparison to the iPhone 8 and contest the iPhone XR and 11 in terms of battery life even though it carries a smaller one.

So why is Apple putting new stuff into an old phone? It raises questions as to whether they have lost innovation and the creative flair that they once had when producing new iPhones, but my personal opinion it should create a trend amongst consumers that there is no need to upgrade to the flagship model every year, given that the product life cycle on items are getting shorter as the years go on. It provides customers with the ability to purchase a phone that is the same shape as their original with the new hardware inside at a reasonable price, which is something that other companies should follow with as well.

What are your thoughts? Do you think Apple are losing innovation to produce newer and better things or is the iPhone SE a step in the right direction with providing a cost-effective alternative?

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