Apple Wants You to Have a Cheaper iPhone

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Apple  (APPL) wants you - to have a cheaper iPhone in your back pocket, that is.

The Cupertino, Calif.-based company is prepping to roll out a new, lower-cost iPhone as it  looks to retain its edge in the global smartphone marketplace, particularly against Android-enabled devices, with its suppliers already prepping to begin production.

Bloomberg News reported on Wednesday that Apple suppliers and manufacturers in China and elsewhere have already received plans for the new lower-cost model, and will begin assembling it starting next month.

The new iPhone, which will be similar to the company's SE model that it released in 2017, could be officially unveiled as early as March. According to reports, the new model will have a 4.7-inch screen and Apple's older thumbprint recognition technology.

Apple is planning a slew of new high-end iPhones for release later in 2020 that include 5G connectivity, faster processors, and new 3-D cameras on the back. 

A lower-cost version would serve not only those who don't want to shell out $1,000-plus for a new piece of hardware, but in other markets where its higher-priced phones don't sell as as well. 

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