"Additionally, China smartphone activation data points to a reversal in Apple share trajectory with losses through March that presents a meaningful headwind in the largest smartphone market", the note continued.
In February, for example, Tim Cook said the iPhone X beat Apple's expectations.
The first generation iPhone SE was launched in March 2016.
"Versions of iPhone running iOS 11 are listed with the model numbers A1920, A1921, A1984, A2097, A2098, A2099, A2101, A2103, A2104, A2105, and A2106". Apple usually uses a unique model number for the different regional variants, so these model numbers do not suggest the company will be launching 11 new devices this year.
This is relevant as EEC usually adds new products to its database about a month before the official launch. Apple will update the iPhone X, but won't kill it.
But this year's iPhone SE upgrade may not be the refresh fans were hoping for.
TSMC has been the sole supplier of the A-series chips used in Apple's iPhones and iPads since the iPhone 7 and A9X-equipped iPad Pro. And since it is going to be a niche device, the iPhone SE 2 will not have to worry about any direct competition. The Chinese website QQ.com reported that the new iPhone SE will have a 4.2 inch screen, A10 Fusion chip, 2GB of RAM, Touch ID, and metal frame and back. However, while sales may be down, profits aren't, according to recent analysis - the iPhone X is estimated to have captured a full 35% of total smartphone industry profits in the final quarter of past year.
There's no word on the cameras, but it appears the SE 2 will boast a single-lens camera akin to the recent iPhone 7 or iPhone 8 models.