And that's for the 64GB model – it's possible that the new iPhone SE 4 will start with 128GB of storage inside. An iPhone SE (2022) with 128GB of storage inside costs $479 / £469 / AU$799, which is perhaps a fairer comparison with the latest price leak, and would mean a much smaller price bump.

Apple is set to launch the iPhone SE 4 in the first half of next year. The price of this affordable iPhone has already been revealed ahead of its launch, potentially surprising iPhone enthusiasts.

A new leak suggests Apple's next budget-friendly phone should be a big-time upgrade at an unbeatable price. Here's why.

The price leak comes just as Apple fans were beginning to wonder whether the SE model would see a significant price bump or if it would remain relatively affordable.