It could be gearing up to launch a second version of its popular budget phone, the iPhone SE.
And the SE might not be the only affordable model in Apple's iPhone lineup for long.
The tech giant may also be planning to launch a cheaper, bigger version of the iPhone X that costs just $550, according to new reports.
Longtime Apple analyst Ming-Chi Kuo of KGI Securities, who has correctly predicted the firm's moves in the past, believes a 6.1-inch iPhone may be on the way that has many of the same features as the iPhone X but features a cheaper price point.
Additionally, Apple recently submitted a Russian-language filing with the Eurasian Economic Commission (EEC) that seeks to register 11 separate iPhone models.
It's common for several model numbers to correspond with one iPhone, so it's likely that Apple isn't actually planning to release nearly a dozen new devices.
But many believe that the filing, which was first spotted by French site Consomac, gives credence to recent rumors that Apple is looking to release an iPhone SE2.
The SE hasn't been refreshed since it was first released in March 2016.
Since then, it has risen in popularity, at one time topping the charts in the UK as the best-selling smartphone in the nation.
Unlike Apple's other iPhones, which continue to be upgraded in price and design, the SE has a 4-inch screen and starts at $349 (£349).
According to the filing, the model numbers are A1920, A1921, A1984, A2097, A2098, A2099, A2101, A2103, A2104, A2105 and A2106.
The A19, A20 and A21 models could also suggest that Apple will release a few different SE models with variations in screen size, camera or other features.
Filings serve as a pretty good predictor for Apple's product pipeline.
Previous EEC filings showed Apple had registered two new iPad model numbers and, low and behold, the firm released two new cheap 9.7-inch iPads.
Rumors suggest that Apple will release the iPhone SE2 at its Worldwide Developers Conference in June.
Speculation has been building that Apple is slated to release a 6.1-inch iPhone next year that serves as a follow up to the 10th anniversary iPhone X.
The second-generation iPhone X would feature an even bigger screen, yet it may have a cheaper price point at just $550 (£550) vs. the $999 (£999) iPhone X.
In August 2017, rumours from the supply chain said the iPhone 9 will be available in two sizes, including one with a massive screen.
At the same time, Apple could be planning to launch a follow-up to the iPhone X that features a massive screen.
Kuo believes Apple will release an iPhone with a 6.1-inch edge-to-edge screen that can support two SIM cards and could be priced as low as $650 (£457).
Another 6.1-inch model would only support one SIM card and would be even cheaper with a price tag of $550 (£387).
By comparison, the iPhone X has a 5.8-inch screen and costs $999 (£999).
The 6.1-inch version would also feature an LCD screen, instead of the iPhone X's pricier OLED display.