The iPhone 5se is rumored to be the name of Apple's upcoming 4-inch iPhone. It is said to look similar to an iPhone 5s, but with curved cover glass and some upgraded internal specs, including an A9 processor and support for Apple Pay.
EXPECTED FEATURES
4-inch display
A9 chip
Touch ID
Apple Pay support
8-megapixel rear camera
Live Photos support, but no 3D Touch
Metal casing
Rumors have disagreed on the prospective specifications of the 4-inch iPhone, but they agree on a prospective launch date -- early 2016. Apple is said to be planning to hold an event March 15, which is where the iPhone 5se is likely to make its debut. Rumors suggest the iPhone 5se will then be available for purchase in Apple retail stores and online on March 18.
Foxconn is said to be leading production of the 4-inch iPhone 5se, but Apple has also tapped Wistron in an effort to diversify its supply chain and ensure adequate launch supplies.
When the iPhone 5se is released, Apple is expected to discontinue the iPhone 5s, its current low-end device. The iPhone 5se will initially be sold alongside the iPhone 6, 6s, 6 Plus, and 6s Plus, but when the iPhone 7 launches in September, Apple is said to be planning to discontinue the iPhone 6 and 6 Plus for a lineup that includes the iPhone 7, the iPhone 7 Plus, the iPhone 6s, the iPhone 6s Plus, and the iPhone 5se.