Apple is gearing up for its ‘It’s Glowtime’ event happening tomorrow, Monday 9th September, from the Steve Jobs Theatre at Apple Park in Cupertino, California. CEO Tim Cook and other execs are primed to all but certainly announce details of the iPhone 16, iPhone 16 Plus, iPhone 16 Pro, iPhone 16 Pro Max and, if rumours are correct, at least one new Apple Watch and two new pairs of AirPods.

That’s a lot of new gadgetry for you to get your head round and even more of a financial hit if you want to invest. Apple products are far from the most affordable on the market. That’s why the iPhone SE has always been such a popular iPhone choice - a cheaper iPhone with up to date internal specs in the body of an older design.

The formula worked well on the 2022 iPhone SE, which had the same processor and specs as the iPhone 13 but with the same chassis as 2018’s iPhone 8. It’s the last remaining iPhone on sale with a Home Button, and there are whispers that Apple is preparing a fourth-generation iPhone SE to replace it.

But if you were hoping this new cut-price iPhone will break cover tomorrow, you are likely to be disappointed. It’s thought a new iPhone SE will be announced in early 2025, possible in March.

This fits in with when Apple has released the previous three iPhone SE models, about six months after the latest flagship iPhone event. According to various reports, the next SE will be unveiled in March 2025.

That could mean we get a cheaper iPhone with the internal specs of the rumoured iPhone 16 to be announced tomorrow. Leaks suggest the iPhone SE will finally ditch the Home Button and opt for a design similar to the iPhone 13 and 14, with a notch instead of the newer Dynamic Island.

Another way Apple could keep the price down is allegedly by putting only one camera on the back of the phone - just like all the iPhone SE models to date.

It’s likely that all the new iPhone 16 handsets will cost north of £799, so if you need a new iPhone but don’t want to break the bank, it could be worth waiting until the iPhone SE 4 comes out. While it’s not a certainty, the extensive rumours do point to it being about six months away, and hopefully won’t cost more than £499.