Wait for the iPhone SE 2
Apple is reportedly working on four new iPhones for 2020. Three of them will fall under the iPhone 12 umbrella. The other is something entirely different.
The company supposedly has a 4.7-inch iPhone SE 2 (also known as the iPhone 8s and iPhone 9) up its sleeve for 2020 and the device will supposedly arrive in Q1 2020 with a cheap price point.
At this point, you can expect the iPhone SE 2 to launch in either the March or June window with March looking more likely at this point.
The iPhone SE 2, or whatever Apple calls it, won't have the same firepower as the 2020 flagships, but it should be very capable. It'll also be much cheaper.
If you're interested in a cheaper 4.7-inch iPhone, you might want to hold off and wait for Apple's announcements.
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