Why now is the best time for Apple to release a new iPhone SE

There's one obvious reason to bring back the iPhone SE: people seemed to like it.

In 2017, the iPhone SE was the top-rated smartphone in terms of customer satisfaction, according to the American Customer Satisfaction Index. That placed it ahead of pricier flagship rivals like the Galaxy S6 Edge Plus and even Apple's own iPhone 7.

Reviews of the SE were also fairly positive when the phone launched in 2016. Business Insider called it "the best value of any smartphone," while The Verge pointed out that it served an audience that other smartphone makers were missing. The Wall Street Journal's Geoffrey Fowler wrote that he was "happy to see the iPhone SE" because "the world needs a small phone."

Many of those points still hold true today: Those shopping for small, inexpensive smartphones have few options to choose from. And if Apple doesn't address that market soon, surely another smartphone maker will.

Google, for example, is rumored to be working on a cheaper version of its Pixel smartphone that could debut at its developer conference on May 7. It's expected to be much cheaper than the current versions of Google's smartphone, as Russian tech blog Rezetked reports that it will cost between $400 and $500. The Pixel 3, by comparison, was priced at $800 when it launched, while the larger XL model was priced at $900.

Apple has not mentioned any plans to release a new version of the iPhone SE. But it did release a budget version of the iPad in 2018 that's priced at $329 and supports the Apple Pencil like the more expensive Pro models.

With that in mind, hopefully we'll see Apple pursue a similar strategy with its iPhone lineup and introduce a new model for price-conscious consumers.