Apple is said to plan giant iPhone and a lower-priced model

The new iPhone X is seen in the Apple Store Union Square on November 3, 2017, in San Francisco, California. Apple's flagship iPhone X hits stores around the world as the company predicts bumper sales despite the handset's eye-watering price tag, and celebrates a surge in profits. / AFP PHOTO / Elijah Nouvelage

Apple Inc is preparing to release a trio of new smartphones later this year: the largest iPhone ever, an upgraded handset the same size as the current iPhone X and a less expensive model with some of the flagship phone’s key features. 

With the new lineup, Apple wants to appeal to the growing number of consumers who crave the multitasking attributes of so-called phablets while also catering to those looking for a more affordable version of the iPhone X, according to people familiar with the products.