Apple is working on a new low-cost iPhone which it reportedly plans to announce in March. Dubbed the iPhone 9, this new iPhone will have a design language similar to the iPhone 8 but pack updated internals and sensors for improved performance. The device is expected to carry a price tag of $399 which has once again been corroborated in a new report.

Citing “one source,” a Fast Company report claims that Apple will price the upcoming iPhone 9 at $399, the same price as the original iPhone SE. This lower-cost iPhone will help Apple in China and parts of Asia where budget Android phones do exceedingly well. It will also tempt a lot of existing iPhone owners who are still using an iPhone 6s or iPhone SE and don’t have the budget to buy an iPhone 11. The budget iPhone will also help Apple in attracting more users to its various Services which has been growing rapidly every quarter.

While not reported anywhere, it is likely that Apple will discontinue the iPhone 8 once it launches the iPhone 9.

The new iPhone 9 will feature a 4.7-inch display, Touch ID, 3GB RAM, A13 Bionic chip, and will be available in three colors. A design language similar to the iPhone 8 will help Apple in keeping costs down. The phone will also only have a single 12MP camera at the rear. The iPhone 9 will also act as a spiritual successor to the iPhone SE, a device that continues to have its own niche user base.

Are you looking forward to a $399 iPhone from Apple with updated internals?