KGI Securities analyst Ming-Chi Kuo is out with a note today saying Apple will release an iPhone with a 6.1-inch display and price tag between $700-$800.
In order to get the price point down, Kuo writes, Apple will build the phone with an LED screen, not OLED. This would mean Apple is offering the brighter OLED screens only in its $1,000+ phones. The new phone will also have an aluminum body (not stainless steel), a single-lens camera (not dual, and presumably no Portrait Mode), and no 3D Touch (which seems odd because this is not new/expensive technology). Kuo says the device will have the new Face ID facial recognition system, which is expensive technology.
What the phone will be called is anybody’s guess–“iPhone LED” is probably not in the cards. Kuo says it’ll be announced next fall, likely along with a new version of the iPhone X and a larger “X” version that’s being called the iPhone X Plus. Ming-Chi Kuo is usually correct on iPhone-related predictions; it’s thought he has sources within Chinese parts suppliers.