Apple is developing a new and cheaper version of the Apple Watch SE with a plastic case, Bloomberg reporter Mark Gurman reports.

According to him, Apple Watch SE will use a plastic case instead of anodized aluminum. He speculates that this could be one of the ways Apple plans to reduce the cost of the Apple Watch SE.

The current Apple Watch SE retails for $250, but Samsung's cheapest competing watch, the Galaxy Watch FE, costs $200.

Apple famously released the plastic-bodied iPhone 5C in 2013, which was essentially a redesigned version of the iPhone 5. The polycarbonate body was available in a variety of bright color options.

Critics argued that the plastic body was a step back from the luxurious metal body of previous models, and some consumers felt that the price was still too high for a device that was perceived as a low-end product.