Apple reportedly plans to launch an entry-level iPhone in March to penetrate fast-growing smartphone markets where the company holds little market share, Bloomberg stated.

Sources told the news outlet the device would be similar to the iPhone SE, which was unveiled in March 2016 and retailed for $399. The most affordable model in Apple’s current range is the iPhone XR which retails for $449 in base trim with 64GB RAM.

The rumoured entry-level device is expected to include a 4.7-inch display and follow the same design as the iPhone 8. Features are tipped to include biometric access via Touch ID, and the same A13 Bionic processor used in iPhone 11.

Sources familiar with Apple’s roadmap told Bloomberg production will begin in February, with labour split between Taiwanese manufacturing companies Foxconn, Pegatron and Wistron.

Strategy Analytics noted the lower price of Apple’s iPhone 11 contributed to a stabilisation in the vendor’s global shipments during Q3 2019, despite its overall numbers declining 3 per cent year-on-year to 45.6 million units.

Apple is expected to launch its first 5G models in September.