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The Apple logo is displayed at an event at the company’s headquarters in Cupertino, California, U.S. September 10, 2019. REUTERS/Stephen Lam

Apple could use its now common spring event to update its cheaper smartphone. Bloomberg’s Mark Gurman said in his latest newsletter that Apple is expected to showcase a third-generation iPhone SE this spring through a virtual presentation that “likely” will take place in March or April. Echoing past rumors, Gurman understood that the new SE would still stick to the iPhone 8-era design, but would add 5G and a new processor, possibly the A15 from the iPhone 13, when Apple’s history of using the chip peaked of last year

. No other changes were mentioned. It wouldn’t be surprising if Apple increased the storage to 128GB or upgraded the camera sensors (again carried over from the iPhone 8), but that’s not guaranteed given Apple’s low-cost approach to the iPhone SE. A larger battery may be required to compensate for the typically higher power consumption of 5G.

If the leak is true, the new iPhone SE would be disappointing to those who want a modern design that covers almost the entire screen. It would still have a relatively small screen, thick bezels, and a button-based fingerprint reader. However, as we just mentioned,  price is everything to the SE. The model’s current  price of $ 399 is helping Apple reach some customers who otherwise wouldn’t justify an iPhone. The company may not want to do anything that could result in a small  price increase, if only to maximize the SE’s potential audience.