The next Apple smartphone flagship has yet to be formally unveiled, but rumors have been providing some exciting glimpses of what could possibly go into the next iPhone.

Contrary to recent reports, iPhone 7 or 7c will not be an upgraded iPhone 5s after all. A new 4-inch iPhone is being said to be an improved version of the iPhone 5s. 9to5Mac claims that Apple would be taking the essential features of the iPhone 6 and stuffing them into the smaller body of the iPhone 5s. This means that the new smart device will have 8-megapixel primary camera, 1.2-megapixel front camera, A8 processor and NFC chip for using Apple Pay.

The new device is rumored to be named iPhone 5SE, in which the "SE" may stand for "special edition" of the old 4-inch iPhone or "enhanced" iPhone 5s.

There is also a Youtube video from M.I.C. Gadget circulating online that allegedly shows a new 4.7-inch iPhone, and this could be the iPhone 5SE. However, some are saying this could be the new iPhone 6c, as it shares a lot of its design and features from the iPhone 6 lineup. The Youtube channel has a legit history of obtaining hands-on devices ahead of their release dates.

9to5Mac is also saying that the 5SE will support Live Photos, a feature that comes from iPhone 6s, and it will have support for larger panoramas and autofocus for video recording. Moreover, it will get the iPhone 6s' better connectivity via its Bluetooth 4.2, VoLTE and 802.11ac WiFi chips.

The tech site is expecting Apple to discontinue the iPhone 5s, which was released in 2013, to make way for its successor. The 5SE then will take its price point, at $450. Finally, the phone's official announcement may be in late March or early April.

Stay tuned for the latest news and updates.