This schedule matches up with the original iPhone SE which was announced on March 21, 2016. Pre-orders for that device began on March 24th and it was released on March 31, 2016. Apple also upgraded the device a year later on March 24, 2017 with larger storage capacities.
The iPhone SE 2 is expected to feature a similar design as the iPhone 8 with a 4.7-inch display, an A13 processor, 3GB of LPDDR4X RAM, 64GB and 128GB storage options, a Home button, and a Liquid Crystal Polymer (LCP) antenna design. It will allegedly be offered in Space Gray, Silver and Red colors for a starting price of $399.