Apple unveils its cheapest iPad

Apple introduced a revamped version of its most popular-sized iPad at the cheapest price ever, and a shiny red iPhone 7, whose sales will help to combat AIDS.

Apple unveiled a new 9.7-inch iPad with a brighter Retina display starting at $329, and a special edition red-aluminum finish iPhone 7 and iPhone 7 Plus, part of the company’s decade-long partnership with (RED), which contributes to the Global Fund to fight HIV and AIDS.

“Since we began working with (RED) 10 years ago, our customers have made a significant impact in fighting the spread of AIDS through the purchase of our products, from the original iPod nano Special Edition all the way to today’s lineup of Beats products and accessories for iPhone, iPad and Apple Watch,” Apple Chief Executive Officer Tim Cook said on Tuesday.

Apple is the world’s largest corporate donor to the Global Fund, contributing more than $130 million, the company said. Apple is expected to reveal a significant upgrade to the iPhone later this year.

Cupertino, California-based Apple last year unveiled a new iPhone which reignited sales growth in the Christmas quarter after a year of declines. Those falling sales came even as Apple introduced a cheaper handset in March in an effort to spur growth in emerging markets. The only sales growth in the 2016 fiscal year came from the services business, which includes Apple Music and the App Store, and the other products category.

Apple shares rose less than one percent to $142.55 at 10:24 am in New York. Earlier they hit a new intraday high of $142.80.

The new iPad starts at $329 for 32GB with Wi-Fi and $459 for 32GB Wi-Fi plus cellular. It will be available to order starting March 24 in the US and more than 20 other countries and regions. The iPhone (RED) models will be available in 128GB and 256GB models starting at $749 from March 24. Apple also announced new storage capacity for the iPhone SE. That 4-inch display model will now be available in 32GB and 128GB models, doubling the current capacity and replacing the previous models.

Other product launches Tuesday include a new app called Clips, that helps people combine video clips, photos and music that can be shared through social media and messages. Apple also said its Swift Playgrounds iPad app, which helps students learn to code, is available in five additional languages: Japanese, French, German, Spanish and simplified Chinese.

(Updates shares in sixth paragraph. A previous version of this story corrected the spelling of Cupertino.)

To contact the reporter on this story: Alex Webb in San Francisco at awebb25@bloomberg.net.

To contact the editors responsible for this story: Tom Giles at tgiles5@bloomberg.net, Molly Schuetz, Paul Barbagallo

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