Google Unveils Budget Pixel 4a Smartphone

Google also unveiled two new phones shipping in the fall that will come with 5G capabilities.
Author:
Publish date:

Google  (GOOGL) - Get Report unveiled three new Pixel phones Monday, including the budget $349 Pixel 4a which the company has made available for preorder today with the phones shipping on August 20. 

Google also revealed the Pixel 5, which will have 5G capabilities, and the Pixel 4a 5G, which will cost $499. Both these phones will ship sometime in the fall. 

The Pixel 4a will come in one size (5.8-inch screen) and one color (matte black). 

The next generation of Pixel phones follows up the Pixel 3a, which was one of the best-reviewed mobile devices of 2019. But there were reports earlier this year that Google was delaying the launch of the 4a due to adverse market conditions amid the coronavirus pandemic. 

Google's lower cost phone competes with Apple's  (AAPL) - Get Report iPhone SE series, which features much of the same hardware as the company's higher-end iPhone models. 

Google's parent company Alphabet reported another strong second quarter last week, in spite of the difficult market conditions. 

Google reported non-advertising revenue jumped 26% to $5.124 billion from $4.08 billion.

Second-quarter revenue was “driven by gradual improvement in our ads business and strong growth in Google Cloud and Other Revenues,” Alphabet CFO Ruth Porat said in a statement. “We continue to navigate through a difficult global economic environment.”

Google ad revenue slid 8% to $29.867 billion in the latest quarter from $32.494 billion a year earlier. Revenue from Google’s cloud division, a major beneficiary of the pandemic, soared 43% to $3.0 billion in the latest quarter, from $2.1 billion a year ago.

Alphabet shares fell 0.74% to $1,476.87 in afternoon trading Monday.  

Alphabet and Apple are holdings in Jim Cramer's Action Alerts PLUS member club. Want to be alerted before Jim Cramer buys or sells GOOGL or AAPL? Learn more now.