Apple will launch not one, but three new iPhone models this 2018, if new reports are to be believed. One of those being touted is the supposed successor of the 5.8-inch iPhone X handset, which is now unofficially called the iPhone X2.

One would expect that the iPhone X2 will have the same heavy price as the iPhone X, considering the additional upgrades. However, it was tipped that the iPhone X successor would actually get a lower price than last year's flagship.

Per Digitimes, there is a possibility that the iPhone X2 will be the cheapest variant out of the three 2018 models to be unveiled this year. In fact, the iPhone X2 price could be the cheapest that an iPhone flagship can have in years. This is due to the smaller price of the components.

To note, the iPhone X is currently priced at $999, but the cheaper production cost this year would bring down the new price of the iPhone flagship.

It was reported that Apple spends around $400 per iPhone X unit produced, but the cheaper price of the handset components and production cost is expected to give the company about 10 percent savings, which is equivalent to $40 per unit. If Apple decides to pass its savings to the consumers, the iPhone X2 could be priced as low as $900.

Aside from the iPhone X2, it was rumored that Apple will also launch a bigger variant, iPhone X2 Plus, measuring 6.5 inches. The third variant will be the 6.1-inch iPhone that uses LCD panel instead of OLED.

Initially, the LCD-powered iPhone was thought to be the cheapest iPhone 2018 model out of the three, mainly due to the relatively cheaper price of LCD screen compared to OLED. With this, the iPhone LCD variant will be the second least expensive model this year, and the iPhone X2 Plus will be the most expensive one.

The iPhone X2 is expected to be showcased at Apple's keynote event scheduled this September.