Apple is working on a new version of the Apple Watch SE featuring a plastic casing, which could make the device more affordable and appeal to younger users. The switch from aluminum to plastic aims to reduce manufacturing costs and offer a broader range of vibrant colors. Challenges with the plastic design have delayed the launch, which is now anticipated for next year. The new SE model is expected to include an upgraded processor, potentially the S9 or S10 chip, and may introduce features like an always-on display and improved ECG monitoring. This cost-effective redesign follows Apple's shift to titanium for the higher-end Watch Series 10, emphasizing Apple's strategy to broaden its wearable product line.