Apple analyst Ming-Chi Kuo has just revealed more details on the iPhone SE 2 that's slated for release in early 2020.

Previous leaks from Kuo already tackled next year's iteration of the budget smartphone, saying that Apple is planning use a similar design as the iPhone 8 while boasting an elevated iPhone 11 performance.

Now, the reliable analyst is spilling more about what consumers can expect from the upcoming iPhone SE 2.

Apple Upgrades Next iPhone SE Specs

While the form factor of the iPhone SE 2 may be a throwback, its specs will be new generation.

According to 9to5Mac, Kuo said the upcoming smartphone will launch with the latest A13 chip, which is the exact same processor running in the newly-launched iPhone 11 and iPhone 11 Pro. On the other hand, the iPhone SE 2 is expected to carry 3 GB of RAM, a full 1 GB less than the more premium smartphones of the Apple lineup.

Apple users eyeing the more affordable SE model will have their pick of 64 GB or 128 GB storage configurations as well as three different color options of silver, space gray, and red.

One feature the budget iPhone SE 2 will not come with is 3D Touch, which is already something that the company scrapped from its latest iPhone lineup.

All of these features and some lack of features are expected to come with a price tag starting at $399. This puts it at the same price as the original iPhone SE, which was released in 2016 with a 16 GB storage configuration.

Kuo, who is known to provide accurate information on unreleased Apple products, expects the iPhone SE 2 announcement and launch to be in early 2020.

iPhone SE 2 Users

According to Kuo, this cheaper iPhone model is geared toward current iPhone 6 and iPhone 6 Plus users who are no longer able to update to the new iOS 13 this year. With the iPhone SE 2, consumers can stay in the Apple ecosystem with a smartphone that has the same CPU as all the latest models at a more affordable price point. By comparison, the iPhone 8 with 64 GB storage currently goes for $449.

Phone Arena noted that other targeted consumers may also be first-time iOS owners, users who don't need all the features on the premium models, or those do not want to spend $699 for the 64 GB iPhone 11.

Kuo predicted the company to sell more than 30 million units of iPhone SE 2 in 2020. Apple has reportedly requested suppliers to produce 2 to 4 million units of the new smartphone per month.