Rumors about the next iPhone SE have been floating around since earlier this year. Apple's budget phone was launched three years ago, with a starting price of $400. Now the company hasn't exactly confirmed if there's going to be an iPhone SE 2, but a new report suggests that we may see an iteration of the popular handset soon.

Although, Apple did say that it wasn't interesting in designing an iPhone SE 2, at least not in the near future. According to CnBeta, however, the Cupertino giant is thinking about tapping into the mid-tier segment again. Rumor has it that a successor will be launched next year, which will have an LCD screen instead of an OLED panel in order to keep down costs to a minimum.

The report also mentions that Apple has decided to source the screens from Sharp, and they will be slightly bigger than the original SE. Instead of 4 inches, the rumored SE 2 will be around 5 inches when measured diagonally. which is slightly bigger than what previous rumors have claimed about an affordable future iPhone touting a 4.7-inch display 

Apple reportedly considered going to LG and make the company official LCD supplier, but the South Korean company had backed out of the deal because Apple wasn't paying them enough.

Meanwhile, a different report claims that the iPhone SE 2 launch will happen in 2020 in order to help Apple regenerate the revenue it has lost because of the global regression of the smartphone market.

Let's say an iPhone SE 2 is indeed underway - what would it look like? According to reports, the successor will have similarities with the iPhone 8, but its components will that be of the iPhone 11 series. Apple has reportedly based their decision to release an iPhone SE 2 on the off chance that the iPhone 11 handsets fail to attract considerable demand.

It's believed that the next iPhone SE will cost less than the iPhone XR, which mind you, starts at $600. Now the cheapest iPhone 8 you can find is at $500, so it's quite tricky to gauge how Apple will position the price of the iPhone SE 2.

There are speculations that the next SE will have a better SoC than the iPhone 8, so perhaps Apple will discontinue the 8s and replace it with the SE 2?

We're just guessing, but if all goes well for Apple, we don't mind having a new iPhone SE around.