Aiming to take on Huawei and other Chinese rivals, Apple is reportedly mulling to resurrect the cheaper iPhone SE for emerging markets, especially India and China, early next year. The new model would be Apple`s first low-cost smartphone since the launch of the iPhone SE in 2016, which started at $399. 

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Though the name and price of the new model hasn`t been decided, it is viewed as the latest generation of the iPhone SE, the Nikkei Asian Review reported on Wednesday. Reported to be similar to the 4.7-inch iPhone 8 that was launched in 2017, the new iteration would arrive next year.

It is likely to feature an LCD display and "most of the same components" as this year`s flagship iPhones. "The cheaper iPhone is designed to help Apple gain ground in emerging markets, where consumers are more price sensitive. 

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"It could also counter mid-to-high range smartphone models from Samsung Electronics, Huawei and Oppo -- as well as challenge Google, which became the No. 5 smartphone maker in the US during the June quarter thanks to its $399 Pixel 3A," the report added.