According to rumors, Apple is targeting a sub-$500 starting price for its upcoming fourth-generation iPhone SE.

Revegnus on X has leaked that the U.S. launch price of the fourth-generation iPhone SE will either remain at $429 or increase by around 10%. The price is likely to remain below $500 in either case.

According to The Information, Apple will release a redesigned iPhone SE in the spring of 2025 that will remain the company’s cheapest iPhone. According to reports, the design will be similar to the iPhone 14, with Face ID replacing Touch ID, and the Home button being replaced with a display notch.

As with the iPhone SE 3, the iPhone SE 4 could have an OLED display rather than LCD, and its display size will increase from 4.7 inches to 6.1 inches. An Action button and a USB-C port are also rumored features for the next iPhone SE.

Due to the fact that the SE panel will use legacy parts identical to the ones used in the iPhone 13 and iPhone 14, suppliers will not need to make new R&D investments, panel prices are expected to be much lower than OLED display prices for the iPhone 15. As early as August, display manufacturers were bidding to supply the panels.

It’s likely that there will be pent-up demand for a new model that includes some of Apple’s flagship iPhone features since the third-generation iPhone SE was released in March 2022.