Samsung's Galaxy S20 Lite, rumored to be called the Galaxy S20 Fan Edition (FE), will reportedly arrive early next year to offer a lower-priced option of the company's latest flagship. It would launch shortly after the iPhone 12, which is slated for a late fall release.

Like the Samsung Galaxy S10 Lite and Samsung Galaxy Note 10 Lite before it, the Galaxy S20 FE will be less expensive than the current S20 model, but will offer some of the same features. According to SamMobile, a well-established site for Samsung leaks, the S20 FE will be announced with model numbers SM-G780 and SM-G781.

Since the Galaxy S10 Lite is filed as SM-G770, there is reason to believe that Samsung is sticking to its deliberate labeling system for the watered-down version of its S20 predecessor.

SamMobile has also stated that it "can confirm" that this budget Galaxy S20 variant will "take over" the existing Galaxy S10 Lite lineup.

Instead, those who want to get the features of Samsung's flagship should look to the S20 with the addition of a "Fun Edition." The name is also reported by display consultant Ross Young, who has provided numerous leaked information on Samsung's Galaxy Fold 2 in recent months.

In a conversation with Young, XDA Developer Max Weinbach suggested a January launch for a lower-priced model of the S20, which could debut at CES 2021, just as the S10 Lite was announced at CES 2020.

SamMobile said the S20 FE will be available in three versions, including an optional 5G model, but it is unclear whether these versions will be offered globally or limited to certain countries.

The site believes the Galaxy S20 FE will offer a minimum of 128GB of storage and ship with Android 10. It should also feature Samsung's One UI 2.5, which is rumored to be released along with the Samsung Galaxy Note 20 in August.