Price has always been a problem for folks who want to secure an iPhone. This has been a long-standing obstacle, although Apple is doing its best to make it as price-friendly as possible. If the rumor mill holds, getting a new iPhone could come as low as $399.

With Apple expected to unravel its new breed of iPhones soon, a recent report from Fast Company claims that the budget-friendly iPhone will be priced at around $399. If this is true, the price will have about the same starting price as the 2016 iPhone SE. Further, this has led most to speculate that the next price-friendly Apple device could be named the iPhone SE 2. Others are calling it the iPhone 9.

Though some question the viability of the claim, it does align with a previous forecast by renowned analyst Ming-Chi Kuo. Back in October, he claimed that the cheapest variant of the next iPhone batch would likely be teetering in that price range, Mac Rumors reported. But until the Cupertino company makes an official announcement about the rumored variant, it would be best to take this with a grain of salt.

With regards to the specs, the rumor mill has made suggestions on what to expect. Word has it that this cheap iPhone variant will be similar in design to the iPhone 8 but with a thicker top and bottom. It will also have a Touch ID home button.

On the inside, the said iPhone will bank on an A13 chip, which the iPhone 11 and 11 Pro have. It will also have 3 GB of RAM. As far as storage is concerned, the belief is that the device will be made available in 64 and 128 GB variants. Among the potential color choices for it include Space Gray, Silver, and Red.

To keep the cost of the said iPhone low, the usual built-in camera is expected to take a hit. The rumored iPhone SE 2 will have a single-lens rear camera. Details are limited right now on whether this camera will also be wide-angled similar to the iPhone 11.

As far as its official release date, such may be pushed back. Most know how China factories were forced to shut down due to the coronavirus outbreak, and this is likely to cause some delay. Apple usually holds an event in March, but even that is up in the air. A clearer time-frame on the release of the budget-friendly iPhone should be known once the Cupertino company sets its usual annual event to introduce its new offerings.