Apple is reportedly preparing to launch an updated version of its lower-cost iPhone SE as soon as next week. The company plans to unveil the device via its website rather than hosting a high-profile event,

Apple’s eagerly awaited return to the ultra-competitive mid-range smartphone market with a new iPhone SE could happen in the next week.

Apple’s next iPhone SE might be announced “as early as next week” ahead of it being on sale later in February, Bloomberg reports. The new phone has already seemingly appeared in photos and video and Bloomberg says Apple’s inventory of the current iPhone SE has started running low, which all could point to an imminent launch.