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Published 11:07 20 Apr 2018 BST
Updated 11:29 20 Apr 2018 BST
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Kuo says that the lower price is to help Apple increase their market share in China.
The brand didn't have as much success with the costly iPhone X as anticipated and so might be dipping its toe further into the mid-range phone market.
If it does, it won't be Apple's first 'budget' handset - that came with the iPhone SE in 2016.
Nothing has been confirmed but it's thought that the announcement could come at Apple's Worldwide Developers Conference in June.
The company has already rolled out two cheaper iPads to compete in a competitive tablet market it's been struggling in.News

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