According to unspecified "reliable" Chinese leakers quoted by the Japanese Apple blog Macotakara (via 9to5mac), the upcoming iPhone SE 3 is going to be nearly, if not fully identical to the current 2020 iPhone SE 2.
This would suggest that we should expect the same 4.7-inch LCD Retina display, same Touch ID sensor embedded in a circular home key and the same design with rounded corners and large bezels.
All that would position the iPhone SE 3 as Apple's budget current iPhone with the most outdated design, even if its internals are surely to get an upgrade. More specifically, the iPhone SE 3 is presumed to be getting the Apple A15 Bionic chip and either 4GB of RAM, or the same 3GB as the 2020 iPhone SE.
If this rumor is to be believed, the iPhone SE 3 will be identical to the iPhone SE 2 (shown here)
In contrast, all of Apple's new flagship 2021 iPhones use Face ID as opposed to Touch ID, and feature the flat-edge design Apple has now also applied to the current iPad Pro, 2021 iPad mini and 2020 iPad Air.
The iPhone SE 3 is rumored to be entering production in December of 2021 and get released in early 2022, possibly in the first quarter, for a price around $399.
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