The only issue is that in the last 2 quarters the iphone sales curve is starting to flatten and I don't believe the iphone SE will change the sales curve much. Next thing will be that YoY sales will slowly start to decline and if they react too late (=lowering prices or properly innovate), IT WILL BE TOO LATE...
If I will be in a situation to get an android/ms phone and I end up liking it, I will not move back to apple just because they lowered their prices later on... In this environment where you buy into a platform, a customer loss is much more significant and hard to win back that customer.
So to come back to my situation, if I end up liking the smartphone competition, I will most likely switch everything away from apple (tablets, computers, apple-tv's etc)...
I believe I'm not the only one thinking like this and TBH most apple customers started like that too (buy into the apple platform and when satisfied, switch over completely)