Taiwan-based manufacturers, including Hon Hai Precision Industry Co. Ltd., will begin production of a new low-cost iPhone model for Apple Inc. in February, Bloomberg News reported, citing sources with knowledge of the details.

Pegatron Corp. and Wistron Corp. will also be involved in the manufacturing of the new iPhone, which is expected to be unveiled in March.

The new smartphone, which would be a successor to iPhone SE, will use the same processor as the iPhone 11 and is expected to feature Touch ID built into the home button. Apple uses the A13 bionic chip for the iPhone 11 device lineup.

Apple also requested Taiwan Semiconductor Manufacturing Co. Ltd. to augment its production output of A-series processors during the current quarter to meet higher demand, according to a separate Bloomberg News report.