Apple plans to release a second-generation iPhone Air in the first quarter of 2027, according to Jeff Pu, an investment analyst who covers Apple.

In a research note with GF Securities today, Pu said the iPhone Air 2 will have the following five new features compared to the current model:

• The addition of a second 48-megapixel rear camera— an Ultra Wide lens to complement the existing Fusion lens.
• A slightly smaller Dynamic Island.
• A faster and more power-efficient A20 Pro chipmanufactured with TSMC's advanced 2nm process. The current iPhone Air has a 3nm A19 Pro chip.
• Apple's second-generation N2 chipfor wireless networking. In the existing iPhone Air, the N1 chip is an Apple-designed wireless networking chip that enables Wi-Fi 7, Bluetooth 6, and Thread. The chip also improves the overall performance and reliability of features like AirDrop and Personal Hotspot.
• Apple's second-generation C2 chipfor 5G. Apple says the current C1X chip is already the most power-efficient modem in an iPhone ever.

He expects the next iPhone Air to stick with a 6.5-inch display, 12GB of RAM, and an 18-megapixel Center Stage front camera.

Apple reportedly plans to release the iPhone Air 2 alongside the regular iPhone 18 and a lower-end iPhone 18e around March 2027. The higher-end iPhone 18 Pro, iPhone 18 Pro Max, and foldable "iPhone Ultra" are expected to launch this September, with the devices in the lineup rolling out at different times as part of a new strategy.