Forget the iPhone X ' Apple could launch a new iPhone with a bigger screen this year for as little as $550 (AAPL)

Last year, Apple launched its first $1,000 phone.The iPhone X is not only Apple's most expensive phone, but also its most advanced model. It featured a screen that stretched across the entire device, and advanced front-sensors that lets the phone scan your face to keep it secure.But as soon as September, you might not need to pay $999 to get these features. Several reliable sourcesincluding Bloomberg, Wall Street Journal, Morgan Stanley, and KGI Securitieshave said they expect Apple to release a lower-cost iPhone this year.KGI Securities said in a note seen by Business Insider on Wednesday that it could be priced between $550 and $650.Apple launches new iPhones in September, so that's when it could come out.Here's what we know about the most important iPhone Apple could launch this year:The new low-cost iPhone will only be one of three models that are expected to come out this fall. Apple is also expected to launch an updated version of the iPhone X as well as a super-sized iPhone X.Here's everything Apple's expected to launch this year.But the cheapest of the three new phones is expected to be the best-selling, according to KGI Securities analyst Ming-Chi Kuo. It could account for 65% to 75% of iPhones sold this upcoming cycle, he said in a note earlier this week.It could have an edge-to-edge screen and facial recognition.See the rest of the story at Business Insider
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