Such burst of Apple’s activity caused a mixed reaction from the public.

Apple has unveiled new iPhone SE with a 12-megapixel camera and 16 GB of memory. The iPhone is already available for purchase for $399. It has the same size as the iPhone 5C. By the way, the latter failed and is no longer available on Apple’s online store.

“There are people who want that smaller screen size,” said Bob O’Donnell of TECHnalysis Research. “You do a price cut when you need to drive the market a bit more.” O’Donnell expressed strong doubts that the lower price could generate significant demand.

However, Apple sticks to the opinion that this cheaper version can positively influence iPhone sales. As for now, the market is overcoming regression with the sales expected to fall this quarter for the first time since the very creation of the smartphone market nine years ago. Today Apple shares went down about $0.15 at $105.77. The all-time pick of $133 was in February 2015.

Reuters informs that the announcement of iPhone SE did not allay investor concerns that Apple, which celebrates its 40th birthday on April 1, has no obvious blockbusters in its pipeline.

“Apple is so big now that nothing seems to be earth-shaking anymore, and the strategy seems to be turning to offering complementary products like watch bands so they can maintain their sales momentum,” said Skip Aylesworth, portfolio manager of the Hennessy Technology Fund.

Mark Prigg from shares his first impression of iPhone SE: “The key to the iPhone SE is a simple – familiarity. This is a handset that looks identical, on the outside at least, to the hugely popular iPhone 5s, with the only obvious difference being a new matte metal finish. However, switch it on, and it becomes apparently this is a ‘retro’ iPhone in looks only. It’s blazingly fast – and playing several high intensity games show that this really is as powerful as the current flagship, the 6s.”

Yesterday Apple also presented new wristbands for the Apple Watch and a new iPad Pro tablet at Monday’s event, and a robot called Liam.

Later this year Apple is going to present a top-notch, large-screen iPhone 7. The company is attacking the top and the middle of the smartphone market.

The public reaction to this burst of Apple’s activity was rather ambiguous.

“If these smaller phones are a gateway into the Apple ecosystem then over the long term it improves Apple’s chances of growing at a comfortable rate,” said David Meier, a fund manager with Motley Fool Funds.

“So what’s Apple’s line-up next year? iPhone 7, 6s and a new SE?” tweeted Benedict Evans, a partner at venture capital firm Andreessen Horowitz. He also posted an image of several iPad models with the caption: “Please tell me this is getting cleaned up.”

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