Apple will release a lower-priced iPhone SE2 in the first quarter of 2020, one of the top analysts following the company reportedly said.

Ming-Chi Kuo of TD International Securities said the design and hardware of the new device is similar to the iPhone 8, but with the same processor used in the iPhone 11.

It “will likely increase iPhone’s market share and benefit Apple’s promotions for service and content,” Kuo said in a research note, according to CNBC.

He expects shipments of 30 to 40 million units of the iPhone SE2 in 2020 and sees it being a key growth driver for the company, attracting customers who don’t particularly want fancy features like Touch ID or a single-lens rear camera.

CNBC said Kuo has an excellent track record of predicting Apple products ahead of their release.

He didn’t know the price of the phone. But Apple currently sells the iPhone 8 for $449, so the iPhone SE could potentially offer more power for $50 less, if Apple keeps the same pricing, CNBC said.

iPhone 11 are on display at an Apple store.
iPhone 11 are on display at an Apple store.VCG via Getty Images