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Just weeks after Apple began selling its nearly $1,000 iPhone X, a report suggests that the company is also preparing to upgrade its lower-cost smartphones.

CNBC, citing a report in China's Economic Daily News, indicated that Apple plans to replace its iPhone SE with the forthcoming SE 2 in the first half of 2018.

The next incarnation of the SE would feature a price tag starting at about $450. Although that is less than half the price of the iPhone X and would remain about $100 below the next-cheapest Apple device — the iPhone 7 — it would be about $100 more than the current SE.

The tech giant plans to continue targeting emerging markets with the smaller, less-expensive devices.

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