Cupertino, CA - Apple is expected to announce the fourth generation of its budget-friendly iPhone SE as early as this week, according to Bloomberg. The new model will feature a significant redesign, bringing it in line with Apple's more recent flagship devices.

The iPhone SE 4 will reportedly ditch the home button in favor of a full-screen design with Face ID, similar to the iPhone 14. It will also switch to a USB-C charging port and be powered by the A18 Bionic chip. This marks a major departure from the current iPhone SE, which is based on the iPhone 8 design.

The inclusion of the A18 Bionic chip and 8GB of RAM suggests that the iPhone SE 4 may be geared towards supporting Apple's artificial intelligence initiatives. Apple has been investing heavily in AI, and the new iPhone SE could be a key part of its strategy to bring AI to a wider audience.

In addition, the iPhone SE 4 is rumored to be the first Apple device to use the company's own 5G modem. This would be a significant move for Apple, as it would reduce its reliance on Qualcomm for modem chips.

The iPhone SE 4 is expected to be a popular device, especially among consumers who are looking for an affordable iPhone with the latest features. The combination of a new design, powerful processor, and AI capabilities could make it a compelling option for budget-conscious buyers.