Apple is steadily soaring ahead in the global smartphone arena. Recent data from Counterpoint Research reveals that in the first quarter, Apple achieved record-breaking sales, driven by the launch of the iPhone 16e and robust demand in markets such as Japan and India. While this success underscores Apple's innovation and strategic marketing prowess, the broader smartphone industry faces challenges amid economic volatility and geopolitical tensions.

Apple Inc. $AAPL has unveiled its new budget smartphone, the iPhone 16e, priced at $599. This model aims to rejuvenate sales following a lackluster holiday season. The updated device is set to hit the market on February 28, with pre-orders starting on February 21.