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'The demographic dividend of the last 40 years is ending': J.P. Morgan says the world is running out of the two things that kept interest rates down

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You Can Now Buy the Smaller iPhone, iPad Pro

By
Don Reisinger
Don Reisinger
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By
Don Reisinger
Don Reisinger
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March 31, 2016, 10:49 AM ET
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The day has come for consumers to pick up the new iPhone and iPad.

Apple’s (AAPL) iPhone SE and 9.7-inch iPad Pro are now available to purchase. The devices are on sale both online and in stores, including the Apple Store and participating retailers. Carriers are also selling the devices supported on their networks.

Apple introduced the long-rumored devices at its “Let us loop you in” press event March 21. The iPhone SE comes with a 4-inch screen, making it notably smaller than the 4.7-inch iPhone 6s and 5.5-inch iPhone 6s Plus. That said, it doesn’t skimp on features. The handset, which replaces the iPhone 5s Apple launched in 2013, comes with the company’s A9 processor and M9 motion coprocessor. It also comes with a 12-megapixel rear-facing camera and Apple’s Touch ID fingerprint sensor. Pricing starts at $399.

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The 9.7-inch iPad Pro is designed to complement the 12.9-inch iPad Pro Apple launched last year. The tablet runs on the slightly more powerful A9X processor and comes in both WiFi-only and WiFi-and-Cellular models. Its storage capacity starts at 32GB and tops out at 256GB. Like some other Apple devices, it comes in four colors: Silver, Gold, Space Gray, and Rose Gold. Pricing starts at $599 for the WiFi-only 32GB model.

Apple started offering pre-orders on both devices last week. Soon after, some of its early allotment was depleted, though customers who pre-ordered the devices online after the initial supply ran out are still likely to get their devices within the next few days.

As of this writing, that’s not necessarily the case. The majority of 9.7-inch iPad Pro models have sold out of their initial supply, and Apple now promises to ship new orders from its warehouses sometime within the next two weeks. The same holds true for Apple’s iPhone SE, though that depends on which carrier and model customers choose.

As noted, Apple isn’t the only company carrying the new iPhone and iPad as of Thursday. Those looking for something new from Apple could have better luck at carrier stores, where there will likely be some devices available.

Questions abound over whether the iPhone SE and new iPad Pro will be successful. Apple’s iPad business has been in free fall over the last several quarters. During its last-reported quarter ended Dec. 26, Apple’s iPad unit sales plummeted 25% year-over-year to 16.1 million units. The division’s $7 billion in revenue was down 21% compared to the same period in the prior year. The decline was in line with a broader tablet market slowdown.

Meanwhile, not everyone is so sure the iPhone SE will be popular. While Apple said it sold 30 million 4-inch iPhones last year, a study released last week from Consumer Intelligence Research Partners (CIRP) predicted that the company would sell between 4 million and 6 million iPhone SE units in the U.S. in its first year of availability. Considering Apple sold nearly 75 million iPhones in total in its last-reported quarter, that’s a paltry sum.

Read more: iPhone SE Won’t Be as Popular as Apple Hopes, Study Says

CIRP didn’t estimate how many units Apple might sell worldwide, where the iPhone SE could find a more inviting market, thanks to a larger number of consumers seeking a midrange, affordably priced iPhone like the iPhone SE.

Apple says it hopes to sell the iPhone SE in 110 countries by the end of May.

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