By Don Reisinger
April 19, 2018

Apple is working on a new iPhone that might be far cheaper than some might expect.

The tech giant is planning to release an iPhone this year featuring a 6.1-inch liquid crystal display (LCD) for just $550, KGI Securities analyst Ming-Chi Kuo wrote to investors this week, citing sources who claim to have knowledge of Apple’s plans. Apple-tracking site 9to5Mac earlier reported on Kuo’s comments.

Additionally, Kuo, who’s emerged in recent years as one of the more reliable sources for Apple rumors, told investors that it could have dual-SIM support. That feature would allow users to have two SIM cards inside the handset, each connecting to different wireless networks. Dual SIMs are especially popular for world travelers who want to use the same handset to connect to a network at home and in other countries around the world.

Kuo’s report is somewhat surprising on a couple of fronts. Apple hasn’t ever offered a dual-SIM iPhone. Kuo also suggests the move could help Apple “increase market share in China,” according to 9to5Mac.

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The company’s decision to price the iPhone at $550 to start might also prove a boon for Apple. Last year, with the unveiling of its iPhone 8, Apple said pricing would start at $699. Customers who want a big-screen and new iPhone this year could save $150 on that device.

Still, there are some caveats, according to Kuo. He said that while the 6.1-inch LCD option will start at $550, those who want the dual-SIM version might need to pay $650 to $750.

Kuo has previously said that Apple will unveil three new iPhones this year. The 6.1-inch model will be flanked by an upgrade to the iPhone X, as well as a new and bigger iPhone X Plus, he has said.

Apple, of course, has remained silent on its plans and likely will remain so until it’s ready to make an announcement.

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