Apple is reportedly set to announce the new iPhone SE next week, with sales expected to begin later this month.

According to Bloomberg, Apple’s budget-friendly iPhone SE is getting a long-awaited update, two years after its last release in 2022. The report notes that Apple Stores have been running low on stock, suggesting an imminent launch.

A recent video leak by Twitter user Majin Bu shows a device believed to be the upcoming iPhone SE, featuring a modern redesign without a home button—marking the end of an iconic feature. Instead, it will likely have Face ID and a camera notch at the top, similar to Apple’s older flagship models.

Another big change is the USB-C port, which makes the device compliant with EU regulations mandating universal charging. Apple had to stop selling the iPhone SE (2022) and iPhone 14 in Europe when the law took effect last year.

Reports suggest the new iPhone SE will also debut Apple’s first in-house cellular modem, replacing Qualcomm chips. It is also expected to be powered by the A18 processor, enabling Apple Intelligence features.

Unlike major iPhone launches, Apple is not expected to hold a special event for the SE. Instead, the company will likely quietly introduce it via its website.

The previous iPhone SE launched at $429, but with upgraded specs and a new design, a price hike seems likely.