Apple is working on a new version of its most affordable phone, and it might be surprisingly good this time around.

According to 9to5Mac, which cites a source familiar with the matter, Apple's new iPhone SE 4 will have a new, modern look, with a notch on top. The OLED display will have a 1,170 x 2,532 pixel resolution, and it will probably be similar in size to the 6.1-inch display on the iPhone 14.

Yes, this also means that the iPhone SE 4 will lose the Home Button and get Face ID biometric recognition. While I personally am a little nostalgic about the Home Button, I do have to admit that Face ID works well and it's better to just get rid of the button and expand the display.

The iPhone SE 4 will also come with Apple's A18 chip -- the same chip that powers the company's new iPhone 16 and 16 Plus phones.

Furthermore -- and this is perhaps the biggest surprise -- the iPhone SE 4 will come with the same 48-megapixel rear camera, and the 12-megapixel front camera as you get on the iPhone 15 and 15 Plus. You will not, however, get additional cameras on the back; you'll have to make do with just a single rear camera.

Finally, the iPhone SE 4 will reportedly be the first phone to feature Apple's first 5G modem. This is notable as Apple acquired Intel's modem business back in 2019 to built its own modems, but nothing came out of it so far (Apple's iPhones still use Qualcomm modems). This should also have additional benefits to end users, as Apple's modem, which will handle 5G, Bluetooth, and WiFi connectivity, should be better integrated with Apple's hardware, resulting in better battery life.

While we have heard some of these details before, including Face ID support, and the new OLED display, the part about the cameras and the modem is new.

If all of this sounds exciting, we've got a bit of a downer for you: The iPhone SE 4 is unlikely to arrive this year. Instead, Apple will probably launch it in spring 2025.