It’s been two years since Apple released the third generation of its budget iPhone series, the iPhone SE. We liked it for its flagship-level performance at a modest price. We might get its fourth iteration early next year if the rumors are correct.

There have been around two years of speculation about the iPhone SE 4. The Information reported that the Cupertino company is finally considering increasing phone production this October. We saw a four-year gap between the first two models and a two-year gap between the next two, so the current three-year gap makes sense.

The upcoming iPhone 16 will likely be announced at the Apple event in September, so we might not hear anything about the SE 4 then. According to current speculations by MacRumors and The Information, it will either be unveiled before the Lunar New Year in January or in March since that is when the past two SE phones were released.

According to MacRumors, the SE 4 will likely ditch the Touch ID found on its predecessor and instead offer an all-display design along with Face ID. Measuring around 6.1 inches, it will be significantly bigger than the current iPhone SE 3, which is 4.7 inches. It is said to feature one camera lens instead of the two or three found on current models.

Since Apple has gone full USB-C, the iPhone SE 4 will not include a lightning port. Another feature that will soon become a part of Apple’s flagship models is the multi-function action button introduced on the iPhone 15 Pro. The iPhone SE 4 will also share this spec. While discussing specs shared across iPhones, an OLED display would be one of them, too. Apple has used OLED for all its flagship phones since the iPhone 12 and could use it for the SE 4.

According to MacRumors, the last iPhone SE cost $430, and Apple plans to keep this one under $500, too. While the price may increase slightly due to inflation and increased material and production costs, it seems reasonable.