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Prepare to see four new iPhones

October 13, 2020. Summarized by summa-bot.

TOKYO, JAPAN - SEPTEMBER 20: Apple Inc.'s iPhone 11, iPhone11 Pro and iPhone 11 Pro Max smartphones are displayed in the Apple Marunouchi store on September 20, 2019 in Tokyo, Japan. Apple launched the latest iPhone 11 models featuring a dual-camera system today. (Photo by Tomohiro Ohsumi/Getty Images)

Apple may give its users more choices than usual with its latest smartphone lineup. The company is gearing up to launch four new iPhone models on Tuesday, ranging in size from 5.4 inches to 6.7 inches, according to analysts and multiple news reports.

By Rishi Iyengar and Kaya Yurieff, CNN Business

From CNN Business' Rishi Iyengar and Kaya Yurieff

Apple may give its users more choices than usual with its latest smartphone lineup.

Apple has stuck to a three model lineup for iPhone launches in recent years, with one basic model and two pricier models with more cameras and better displays.

But this time around, a fourth, more basic model with a smaller display — the name "iPhone 12 mini" has surfaced in rumors — could help Apple target more price-conscious consumers, though it's unclear how it would compete with the low-cost iPhone SE.

The last major iPhone "super cycle" of upgrades happened in 2014 with the iPhone 6, said Daniel Morgan, VP and senior portfolio manager at Synovus.

"Since 2014, the newest iPhone launches have felt more like ripples [as] opposed to a wave. "

iPhone sales have slumped in recent years as people wait longer to switch out older models, though Apple staged somewhat of a recovery in 2020 with the iPhone 11.

From CNN Business' Rishi Iyengar and Kaya Yurieff

Apple's pricing strategy for the new iPhone lineup will likely be one of the biggest talking points.

Apple's current top-of-the-line model, the iPhone 11 Pro Max, starts at $1,099 and the Samsung Galaxy S20+ 5G costs $1,199 — though Samsung has also released foldable smartphones costing as much as $2,000.

And other rivals such as OnePlus and Google appear to have all but stopped competing in the fight for the high-end smartphone market.

Apple could use the 5G features to justify a slightly higher price point for the iPhone 12, but the fact that it is expected to release four iPhone variants rather than the three could mean a more affordable offering is in the works as well.

From CNN Business' Rishi Iyengar and Kaya Yurieff

That hasn't stopped the rumor mill from speculating about updates on other products, including augmented reality glasses, a new HomePod smart speaker and even over-the-ear wireless headphones.

Ben Stanton, an analyst at research firm Canalys, mentioned the possibility Apple would announce "AirTags," a rumored new product consisting of Bluetooth-enabled tiles to help track misplaced valuables.

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