Update: New reports indicate that the iPhone SE 3 will again be released in early 2022.

The iPhone SE has had a 4.7-inch display since 2016. And it appears to be undergoing a radical redesign.

According to display analyst Ross Young on Twitter (as reported by Forbes), the iPhone SE will likely keep the 4.7-inch display in 2022 while adding sub-6GHz 5G support. That's the bad news. The good news is that the 2023 version will be a significant upgrade.

Last month, Apple analyst Ming-Chi Kuo also said that the iPhone SE 3 should arrive in the first half of 2022. According to him, the device should have 5G connectivity and a new chipset, which could be the iPhone 12's A14 Bionic at that point.

However, if Ross Young's note proves accurate, the iPhone SE will likely not be completely redesigned until the following year. This 2023 model will be larger, from 4.7" to 6.1", and will also have a punch hole at the top of the display; this would be a very welcome change, as the large bezel around the iPhone SE was one of the only major complaints in our review.

According to this leak, the iPhone SE 4 will likely not have Face ID because the TrueDepth camera technology may be too large to fit into the punch-hole design. This means that Touch ID will either be integrated into the power button or the display itself.

Despite its aging design, the iPhone SE remains one of the best budget phones. That's because it has a powerful A13 Bionic chip and a solid camera for under $400. But it's clear that most users prefer a larger display. It's a shame that Apple fans will apparently have to wait a few years to get the screen size and design they really want.