Apple's budget iPhone 17e keeps the $599 price tag

• Apple's latest version of its budget iPhone is here.
• The iPhone 17e maintains the $599 starting price as the previous lower-cost model.
• It also has MagSafe charging and an improved camera system.

The memory shortage is squeezing smartphone margins, but Apple is maintaining its $599 starting price on its budget iPhone.

The tech giant announced the iPhone 17e on Monday, adding new features including MagSafe charging. The new entry-level iPhone, which is available in black, white, and soft pink, comes with the durable Ceramic Shield 2 front cover that its fellow iPhone 17 family has.

On the backside, it sports a 48-megapixel fusion camera capable of portraits 4K videos, which Apple said is like owning two cameras in one.

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