In 2018, Apple released three updated versions of the iPhone X: the XS, (priced at $999), the similarly equipped but larger XS Max ($1,099), and the more affordable XR ($749). The premium-priced XS models both featured Apple’s top-of-the-line display and cameras that were superior to those found on the XR. All the phones use the same operating system, but the speed is slightly better on the higher-end models. Five years earlier, Apple had used a similar strategy, offering both the low-end iPhone 5c made of polycarbonate and steel, alongside the 5S, which offered glass and aluminum construction and more advanced photo features. Why does Apple release multiple versions of each phone?