Apple could be planning a budget-friendly iPhone X with advanced capabilities, including facial recognition and a sleek new design.

According to Forbes, popular phone case maker Ghostek has supplied renders of a 2018 budget iPhone X, which shows off the best and worst features of Apple’s latest smartphone.

Ghostek is considered a reliable source after last year releasing accurate images of the Samsung Galaxy S9 to Forbes before its release.

The renders reveal that Apple fans on a budget may be able to get the same bezel-less design as the iPhone X – complete with Face ID facial recognition.

The latest leak comes after The New Daily reported predictions that Apple was planning to introduce at least five colour options for its new iPhone models.

While it’s unclear how much the new budget smartphone will cost, renowned analyst Ming-Chi Kuo, known as one of the most reliable sources for Apple information, said last month the second-generation budget iPhone X, standard iPhone X and enlarged iPhone X Plus would be priced at $804 ($US600), $1072 ($US800), and $1206 ($US900) respectively.

But the biggest downside of the rumoured smartphone is that users won’t have 3D Touch capabilities or the same dual camera as the iPhone X or the iPhone 8 Plus.

Instead, users will be restricted to a single rear camera with an LCD display unlike other upcoming models that will reportedly have OLED.

Performance could also be a concern. Reports suggested the upcoming iPhone X models had only 10 per cent greater single-core performance and 5 per cent greater multi-core performance than last year’s models.

The budget smartphone is also rumoured to simply be called ‘iPhone’ and is set to be slightly larger than the original iPhone X measuring 6.1-inches (15.4 cm), which is longer and wider than the current 5.8-inch (14.7 cm) model.

Forbes reported on Monday that Apple was also looking to introduce dual SIM technology to the iPhone family this year.

The technology, widely available on high-and mid-range Android handsets, will finally debut in the iPhone X Plus, Apple’s most expensive handset and the first ‘phablet’ version of the iPhone design that debuted with last year’s 10th anniversary iPhone X.