Apple is reportedly developing its first mid-range phone since the iPhone SE.

Apple

Apple

It is said the company is looking to retake ground in markets like India and China where it has lost out to companies including Samsung, Huawei and Xiaomi with plans for a spring launch.

As reported by Nikkei, Apple's upcoming iPhone SE2 is said to be similar to the 2017 4.7-inch iPhone 8 with "most of the same components" as this year's flagship devices.

Featuring an LCD display, it was previously suggested the phone will also add details like 128GB of storage and a single-lens rear camera.

There have been rumours since last year that the tech giant needs to produce a $299 iPhone to compete in India.

The 4-inch iPhone SE cost almost $400 when it launched over three years ago, and the handset was discontinued late last year after selling around 40 million units.