Rumors regarding a new low-cost iPhone have been circulating for some time now, but according to a new Bloomberg report, Apple's latest cheap smartphone could be dropping very soon. It's currently dubbed the iPhone SE 2, mass production is thought to begin next month, and a big unveil is allegedly slated for March.

As the (unconfirmed) name suggests, this is Apple's first low-cost cell since the iPhone SE, although it's said to carry a closer resemblance to the iPhone 8. It will apparently feature a 4.7 inch screen, Touch ID home button, and be powered by Apple's A13 chip, which also powers the iPhone 11. Apple's Face ID biometric authentication, however, will not be included.

While there is no real information on the iPhone SE 2's retail price, its predecessor hit the market for $399 back in 2016. The iPhone 8, which is still being sold, is priced at $449.

Stay tuned for more information on the iPhone SE 2.