Apple insider Ming-Chi Kuo is claiming some interesting news about Apple's price plans for its upcoming iPhone releases.

According to the respected analyst's predictions, prices on new iPhones may be taking a tumble to the tune of around $300. 

Apple fans will know that the tech giant is expected to debut three new iPhones this year - a successor to the iPhone X, a 6.1-inch edgeless LCD display device, and the giant 6.5-inch iPhone X Plus. 

Kuo reports that the iPhone X Plus will roll out with a price tag in the region of $900-$1000, while the next-gen iPhone X will be in the range of $800-$900.  The 6.1-inch LCD device, meanwhile, is expected to be around $600-$700.

According to Forbes, Kuo says there has been "concern" inside Apple "over the negative impact of a higher price in a mature smartphone market on selling momentum."

This will no doubt be referencing the performance of the iPhone X which although strong, did not sell as well as had been expected.

BGR says this was because the $999 entry price of the iPhone X was too much for some Apple users who might have otherwise upgraded. A $600 device is much more likely to tempt people with perfectly adequate iPhones who are open to the idea of an upgrade.  

@OnLeaks partnered with MySmartPrice to reveal alleged renders of the new budget 6.1-inch device, which features the LCD display instead of more expensive OLED display. In addition to the cheaper display, the device also appears to sport only a single camera on the rear as opposed to the double shooter on the premium handsets.

It also comes with the Face ID facial recognition module and notch but apparently no Touch ID fingerprint sensor.

According to @OnLeaks, otherwise known as Steve Hemmerstoffer, the new model will be a chunkier 8.3mm Vs 7.7mm.

All in all, it looks like the budget phone has a lot going for it.