The big picture: Renowned Apple analyst Ming-Chi Kuo said in a recent note to investors that Apple is unlikely to unveil a new version of its budget iPhone SE in the first half of 2021. In the interim, Apple is entering the holiday quarter with arguably its most complete iPhone lineup to date.

Apple, if you recall, announced its second-gen iPhone SE back in April and launched it later that same month. It is more or less an iPhone 11 stuffed inside an iPhone 8 chassis. The entry-level iPhone starts at $399 and serves as a successor to the first iPhone SE, which Apple debuted in early 2016.

The Cupertino-based tech titan has since filled out its lower-end iPhone lineup with the recently launched $699 iPhone 12 mini, a brand new offering with a 5.4-inch display for those that prefer a smaller handset. Apple is also still selling the iPhone 11 starting at $599 and the iPhone XR from $499.

Given Kuo’s note, if a new iPhone SE does materialize sometime next year, it’ll likely happen in the second half of the calendar. The next major iPhone release, dubbed the iPhone 13, is also said to be on track for the second half of 2021 and will reportedly deliver multiple camera improvements.

Image credit: Mr. Mikla, Aldeca Productions