Rumors broke a month ago that Apple (NASDAQ: AAPL) is working on a new affordable iPhone model that is in the pipeline for early 2020. That device has been billed as a spiritual successor to the iPhone SE that the company released a few years back and discontinued last year. Apple put newer components into an old chassis, sold it at a mid-range price point, and called it a day. The Cupertino tech company is making a concerted effort to bring prices down, as evidenced by the iPhone 11's price drop.
The iPhone SE 2 is expected to use the same strategy.
Image source: Apple.