Preliminary iPhone SE Teardown: Full RF Content in a Value Phone

Vijay Rakesh
Vijay Rakesh Managing Director, Semiconductor
March 31, 2016



We take a look at a preliminary teardown of the newly released iPhone SE. The SE, despite being a value 4" phone, appears to carry the full RF capability with only band 23/43 support missing versus the 6S/6s+. While SE is expected to ship fewer units, it should still be a net content tailwind for the RF suppliers. Overall, content appears to be inline with expectations.

Key Points

A look at the iPhone SE, based on a teardown from Chipworks, is shown below. We take a look at the 4" iPhone SE (retailing at $399) versus the last 4" 5s (which retailed at $449) and the 4.7"/5.5" 6s/6s+. The SE appears to carry the full RF support, with only bands 23/43 support missing versus the 6s/6s+. The SE also carries a 12MP camera versus 8MP in the 5s. As we show below, what stands out is that RF content on the 4" SE is significantly higher than the 4" iPhone 5s, pointing to the L-T trend with increasing RF front-end content. This teardown of the iPhone SE carries a QCOM baseband, though there is potential for subsequent iPhone models to be second-sourced with an INTC modem for specific geographies.

Some disclaimers. We would note that this is a preliminary teardown, and there are multiple components such as discrete filters that are harder to identify on teardown given their miniature size. Overall, we believe content is inline with expectations. No estimate changes here.

View the full research report for important disclosure and analyst certification information. Ratings and/or Price Targets may change. Refer to the US Equity Research Portal library for the most recent company research.​

Login to the US Equity Research Portal


Back to top