Apple's upcoming flagship iPhone is one of the most hotly anticipated phones of 2020, but the oft-rumored iPhone SE 2 may be just as anticipated.

This new low-cost iPhone will reportedly enter mass production in February. That's according to a report from Bloomberg, which adds that Apple could announce the device as soon as March.

Today's report also backs some of the rumored details of this new iPhone that we've heard recently. The device is expected to have a design similar to the iPhone 8, including a Touch ID fingerprint reader built into its home button and a 4.7-inch screen. The phone is also expected to include the same A13 Bionic processor in the iPhone 11 and iPhone 11 Pro.

The screen sizes of Apple's smartphones — and most other smartphones — have been growing in recent years. When the iPhone 8 launched in 2017, it came with a 4.7-inch display, but in 2019 the smallest screen on Apple's new iPhones was the 5.8-inch display on the iPhone 11 Pro.

There are still consumers clamoring for a small screen smartphone, like a follow-up to the iPhone SE that launched in 2016. That device had a 4-inch display, so the new low-cost iPhone's screen is likely going to be bigger than the original iPhone SE, but a 4.7-inch display will still be quite a bit smaller than most other smartphones on the market today.

There's been no concrete evidence on the pricing of this new low-cost iPhone, but rumors say it could cost $399, which is the same price that the original iPhone SE launched at.