Apple plans to unveil the “newest member” of its tech family on Wednesday.

Tim Cook, the company’s chief executive officer, announced last week on social media it plans to roll out a new product, but did not disclose further details.

However, multiple reports have suggested Apple is planning to unveil its latest budget iPhone mode, which would mark the fourth generation of the lower priced iPhone SE model.

It has been three years since the Cupertino, California-based company released its latest iPhone SE.

The new iPhone will likely be priced higher than the one released in 2022 ($429), Reuters reported.

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“If the SE 4 offers meaningful upgrades in design, performance, and AI features, it could reinvigorate its market appeal and strengthen Apple’s position across different price segments,” Counterpoint Research senior analyst Varun Mishra told Reuters.

Launched in September, the latest iPhone 16 starts at $799 for the base model.

When is the Apple launch?

Cook said Apple’s newest product would be unveiled on Wednesday, Feb. 19, but a specific time has not been announced.

Natalie Neysa Alund is a senior reporter for USA TODAY. Reach her at [email protected] and follow her on X @nataliealund.