The OnePlus 8 Pro has been touted as a Samsung Galaxy S20 Plus killer, but OnePlus may yet have another phone in the works that could challenge Apple's iPhone SE 2020.

There have been various rumors that OnePlus is developing a more budget-friendly handset known as the OnePlus 8 Lite or OnePlus Z, but it was never revealed alongside the OnePlus 8 and 8 Pro. However, tech leaker @OnLeaks tweeted that according to his sources, a budget OnePlus phone is still on its way, but its release has been delayed due to the coronavirus pandemic.

Given that OnePlus is a Chinese company, it is not surprising that the COVID-19 outbreak has disrupted some of its manufacturing plans. Making a third phone alongside the premium OnePlus 8 model may have been a bit too much for OnePlus to pull off during the pandemic.

However, the OnePlus 8 Lite still seems likely to appear, albeit in late 2020. By that time, the new iPhone SE will have been released and the budget-focused Google Pixel 4a will have been launched.

OnePlus has always produced phones with specs that challenge Apple and Samsung's flagship devices at prices below most higher-end models. However, it has yet to make a true budget phone.

OnePlus' phone leverages the company's ability to make a well-made, good-looking phone, but with a slightly more advanced chipset and a 60Hz refresh rate display, combined with a few changes to OnePlus' Android, makes it the best budget phone, it could be a serious contender for a budget phone.

If OnePlus can make such a phone for under $400, it would be a strong challenge to the iPhone SE.

The flip side of this is that a budget phone would go against OnePlus' "Never Settle" philosophy: OnePlus typically tries to make high-spec phones that meet the needs of a community of dedicated fans. Since many of these fans are early adopters, they expect the latest OnePlus handsets to have great specs and features that are worth the price. Therefore, a budget OnePlus phone may not be what people crave; they will have to wait until the summer to see if the OnePlus 8 Lite rumors come to fruition.