Apple on Wednesday unveiled the "newest member" of the iPhone family, the 16e, which will cost less than other models but include the new features.

The new iPhone 16e could spell the beginning of the end for Apple's business with Qualcomm's cellular modems. The iPhone 16e is the brand's new "affordable" iPhone. So, what's the catch?

Apple has released a sleeker and more expensive version of its lowest priced iPhone in an attempt to widen the audience for a bundle of artificial intelligence technology that the company has been hoping will revive demand for its most profitable product lineup.