Coincidentally enough, E3 2019 is taking place in June, so we wouldn’t be surprised if Nintendo were to make some kind of announcement at their own presentation where the console would then launch a couple of weeks later. As to the differences between the models, last we heard, the cheaper Switch will focus on portability.
It will not be dockable, meaning that you won’t be able to connect it to a TV like the current Switch and that its Joy-Con controllers aren’t removable either. If anything, we reckon that it sounds more like a successor to the 3DS console, but whether or not this will actually replace the 3DS remains to be seen.
Take it with a grain of salt for now, but we have also heard that in addition to a cheaper Switch, Nintendo could also be launching an upgraded model in the later part of the year, but we’ll just have to wait and see.