Apple announced its new iPhone 16e, featuring artificial intelligence and a lower starting price of $599. The new phone will be available for pre-order on Friday at 8 a.m. eastern time and in stores on Feb. 28.

Longtime Apple executive Phil Schiller on Monday conceded he initially opposed fees that the iPhone maker charges for in app-transactions processed outside its own payment system because he feared violating a court-ordered mandate designed to create more competition.