There have been multiple rumors about Apple having a 4-inch iPhone in the works, but so far, these have not been officially confirmed by the company. However, the latest rumor about this particular small-sized iPhone has indicated that Apple will use a new name for it.

Importantly, Timesnews, reporting on the latest rumors about this 4-inch iPhone, states that its existence emerged on a Chinese social media site. Additionally, the name of the device is rumored to be the iPhone 5e, which is something completely new. Here, the "e" stands for enhanced but it is not clear what the title refers to, because the device, depending on its measurements, is actually going to be the smallest iPhone in the lineup.

Previously, many were speculating that Apple would release a 4-inch iPhone sometime in March, along with the second edition of the Apple Watch. However, until now, many thought it would be the iPhone 6c while others simply stated that the Apple would skip the "6" moniker entirely and settle for releasing an iPhone 7c.

Now with the current rumor about the iPhone 5e, a spanner has been thrown into all the previous rumors about the 4-inch iPhone lineup. As for the specs of the iPhone 5e, it is thought that the device will not have the latest A9 processor but instead, it will feature the A8 version, which was released with the iPhone 6 in 2014. Coming to RAM, it is thought that Apple will include its default 1 GB RAM option and not include, 2 GB which is currently on the iPhone 6s and 6s Plus. However, it is thought that the iPhone 5e will have support for Apple Pay and NFC.

The rumor about the iPhone 5e also provides information about its price and it is quoted to be around CNY 3,288, which converts to about $500.