Apple cancels the iPhone SE 4 and Qualcomm could benefit

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Apple Inc. (NASDAQ:AAPL) has instructed suppliers on canceling the 2024 iPhone SE 4, according to a prominent analyst at the Cupertino-based tech giant.

What has happened Apple has instructed suppliers and noted that production and shipping of the 2024 iPhone SE 4 have been “canceled rather than delayed,” Apple analyst Ming-Chi Kuo confirmed in a blog post, without citing clear sources.

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Initially, the Tim Cook-led company planned to launch its baseband chip in the fourth-generation iPhone SE before rolling it out to the iPhone 16.

However, the cancellation of the 2024 iPhone SE 4 suggests Apple will continue to rely on Qualcomm Inc. (NASDAQ: NASDAQ:QCOM) for 5G chips next year, included for the iPhone 16 series.

“The cancellation of the iPhone SE 4 has significantly increased the chances that Qualcomm will remain the exclusive supplier of baseband chips for the new 2H24 iPhone 16 series, which is better than the market consensus that Qualcomm will start losing iPhone orders in 2024.” Kuo pointed out.

Kuo previously said Apple would cancel or postpone mass production of the iPhone SE 4, likely due to considerably lower-than-expected shipments of mid-range to low-end iPhones.

The iPhone SE series is Apple’s range of basic products. It is considered the cheapest iPhone.

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