Apple may release a smaller, cheaper new iPhone next year — here's everything we know about it so far

Apple May Reliese  iPhone 

The iPhone SE 2 will probably launch early next year.

Apple will likely debut its new iPhone SE in the first half of next year.

Kuo, who has a noteworthy reputation when it comes to reporting on unreleased Apple products, said in a recent note that the phone will be released in the first quarter of 2020, according to 9to5Mac. Previously, a report from Japanese newspaper Nikkei Asian Review also said Apple would release a new low-cost iPhone in spring 2020.

Apple usually reveals its new iPhones in the fall, but it's not unusual for the company to launch other new products in the spring timeframe. In March, for example, it launched a new pair of AirPods and new iPads. 

The new iPhone SE will reportedly look like the iPhone 8.

While the original iPhone SE looked like the iPhone 5S, the next version will reportedly bear resemblance to the iPhone 8.

That's according to Kuo, who said as much in two recent notes reported by 9to5Mac. Nikkei Asian Review also reported that Apple's cheaper new iPhone would have a 4.7-inch display just like the iPhone 8, which Apple currently sells for $450.

If the iPhone SE 2 is largely based on the iPhone 8, that means it will likely retain the home button and may only have one single rear camera. 

But it's expected to run on the same processor as the iPhone 11 and 11 Pro.

The iPhone SE will run on the A13 Bionic chip that powers Apple's latest smartphones, according to Kuo. That lines up with Nikkei Asian Review's report from September, which said that the low-cost phone will run on most of the same components as Apple's new iPhones.

It's also not surprising considering the iPhone SE from 2016 was powered by the same A9 chip found inside the iPhone 6S. 

The new phone is said to cost $400, making it hundreds of dollars cheaper than the iPhone 11 and iPhone 11 Pro.

Apple's new iPhone SE will cost $400, according to Kuo, making it roughly $600 cheaper than the $1,000 iPhone 11 Pro and $300 less expensive than the $700 iPhone 11.

That pricing would also put the iPhone SE 2 on par with Google's $400 Pixel 3a and the iPhone 8, which Apple currently sells for $450.

It may have a liquid crystal display just like the iPhone 11 and iPhone XR.

The iPhone SE 2 will likely have an LCD screen, according to Nikkei Asian Review. That's unlike Apple's high-end iPhones, which have OLED displays capable of showing deeper blacks and offering better contrast.

That's not surprising, however, since LCD screens are typically cheaper than OLED screens and are therefore found on less expensive smartphones. 

Apple will reportedly sell the iPhone SE 2 in three colors.

Apple may have launched new colors for the iPhone 11 and 11 Pro, but it sounds like the iPhone SE 2 will be available in the company's more classic colors: silver, space gray, and red, according to Kuo. 

The base model will have the same amount of storage as the iPhone 11 and 11 Pro.

Apple will offer the iPhone SE 2 in 64 GB and 128 GB storage capacities, Kuo also reported. That's similar to the options Apple offers for the iPhone 11, except it sounds like Apple will not offer the third choice of 256 GB as it does for the 11.