On February 15, Ming-Chi Kuo, an analyst at Tianfeng International Securities who has been following Apple's industry chain for many years, released a report pointing out that the iPhone SE4 is planned to ship about 12 million units/10 million units in 1H25/2H25, which is slightly better than the previous SE models (annual shipments are close to 20 million units after the launch). In addition to reducing the impact of the off-season on shipments, this new model will also help accelerate the penetration of models that support Apple Intelligence. The use of Apple's self-developed baseband chip is also a key point. Qualcomm will re-evaluate its baseband patents after the model is released, and believes that there is an opportunity to obtain some patent licensing fees to reduce the loss of lost orders.