Rumor has it that Apple is going to be announcing a new 4-inch iPhone called the iPhone SE later this month. In a research report by credible Apple analyst Ming-Chi Kuo of KGI Securities obtained by MacRumors, the iPhone SE is expected to cost somewhere between $400 and $500 without a contract. This would make the iPhone SE somewhere between $149 and $249 cheaper than the 16GB iPhone 6S. And after the release of the iPhone SE, the price of the iPhone 5S is expected to be dropped in half from $450.
The economies of scale applied to smartphone components has made it easier for manufacturers to adapt to the downward pressures of product pricing, which is why it seemed inevitable for Apple to offer a lower priced device. In January, Apple said iPhone sales grew at the slowest pace since the original was introduced in 2007. Apple also forecasted revenue in the current quarter to decline for the first time in about 13 years. The lower price would enable Apple to reach more budget-minded consumers that are buying Androids and Windows Phones instead.
What other specifications will the iPhone SE have? The iPhone SE should have an A9 chip, Apple Pay, 16GB and 64GB storage options, Live Photos support, and a 1,642 mAh battery. The camera is expected to be 12-megapixels. Samsung and TSMC are the manufacturers behind the A9 chip in the iPhone SE. There should be at least two color options. And like the iPhone 6S, the cover glass of the iPhone SE is expected to have curved edges.
Designer Martin Hajek modeled and rendered concepts for the smaller sized iPhone SE from 9to5Mac, @onleaks and Curved.de. The 9to5Mac version is based on the iPhone 5S, but with softer edges. The Curved.de version looks like a scaled down version of the iPhone 6S. And the @onleaks version is a combination between the two. Below are the concepts Hajek put together of what the iPhone SE may look like: 

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