Apple is readying to launch a newer, cheaper, iPhone, Business Insider reports. The model is the iPhone SE 2 and it is said to drop in 2020 with a price point similar to that of the iPhone SE, which retailed for $400.

The news arrives via TF Securities analyst Ming-Chi Kuo via 9to5Mac. The phone will undercut Apple’s new $700 iPhone 11 and is expected to hit shelves in the first quarter of 2020.

The iPhone SE 2 follows the iPhone SE, which launched in 2016. Per Kuo’s report, the new model will look like the iPhone 8 but featuring the same chip powering as the iPhone 11 (the A13) and 3GB of RAM. It’s not known yet whether the SE 2 will feature the iPhone 8’s 4.7-inch LCD screen.

Updates to follow.

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