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As reported by Ukrinform, CNBC reports this.
The iPhone 16e will retail for $599 when it goes on sale later this month.
The company said the new device itself costs less than the basic iPhone models that typically come out in September. Apple's current models are the iPhone 16, which starts at $799, and the iPhone 16 Pro, which starts at $999.
It is noted that the iPhone 16e does not have a Home button and fingerprint sensor, instead it uses Apple's FaceID scanner and has a modern design.
The phone is powered by the Apple A18 chip, which is also used in the base iPhone 16 models. Its upgraded processor means the iPhone 16e can run all the same apps and games as the more expensive iPhone models.
The device will be available in black and white colors.
Among other things, the iPhone 16e also includes Apple's first cellular modem, called the C1. For the past few years, iPhones have used Qualcomm modems.
The device has a single camera lens, compared to three on most modern iPhones.
