Apple Inc (NASDAQ:AAPL, XETRA:APC) has unveiled the iPhone 17e, a lower-cost addition to its iPhone 17 range priced at $599, as it kicks off what the company has signalled will be a multi-day wave of product announcements this week.

The handset sits $200 below the standard iPhone 17 and is designed to compete more directly with mid-range devices from Samsung, Google and Chinese manufacturers in price-sensitive markets.

Despite its lower price point, the 17e arrives with a notable specification upgrade over its predecessor, including Apple’s A19 processor, the newer C1X modem, MagSafe wireless charging and 256GB of base storage, double that of the previous entry-level model.

It also supports Apple Intelligence, the company’s artificial intelligence feature suite, bringing it closer in capability to the rest of the lineup. The device comes in black, white and pink, with pre-orders opening on 4 March and retail availability from 11 March.

“iPhone 17e combines powerful performance and features our users love at an exceptional value, making it a compelling option for customers looking to upgrade to the iPhone 17 family,” said Kaiann Drance, Apple’s vice president of Worldwide iPhone Product Marketing.

“We know our customers want a product that will last, and iPhone 17e delivers just that. With A19 for incredible performance, double the entry storage, a smarter camera system, and enhanced durability, iPhone 17e is designed to stay fast, secure, and valuable for years to come.”

Apple simultaneously refreshed the iPad Air, keeping its existing design and pricing intact while upgrading the processor from the M3 to M4 chip, which the company said delivers performance gains of up to 30%.

The 11-inch model remains at $599 and the 13-inch version at $799.