Last week, Apple sent out media invites to its March 21 event at its Cupertino campus, when the company is believed to unveil the 4-inch iPhone SE.

The 4-inch iPhone, which was previously thought to be named the iPhone 6c and the iPhone 5se because of its resemblance to older Apple flagship smartphones, was said to be named the iPhone SE in a report released last month. The name for the device, if it's really the one to be used by Apple, would see the company do away with the standard number-based naming scheme for its iPhones.

Images of the design of a third-party case maker for the iPhone SE were also uploaded at the time, revealing that the new 4-inch iPhone will look very similar to the iPhone 5s, save for the fact that its power button will be at the smartphone's right side.

A previous report also claimed that the iPhone SE will not be compromising performance despite its smaller size compared to Apple's current flagship smartphones, the 4.7-inch iPhone 6s and the 5.5-inch iPhone 6s Plus. The report says the iPhone SE will be packing Apple's A9 processor and M9 motion co-processor, which are the same ones being used by the iPhone 6s and iPhone 6s Plus.

According to well-connected KGI Securities analyst Ming-Chi Kuo, the iPhone SE will launch with a price tag within the $400 to $500 range, which will help Apple infiltrate emerging markets, including India and China. Kuo added that the iPhone SE will be featuring a 12-megapixel rear-facing camera and Apple Pay support, while confirming that the A9 processor will indeed be the one powering up the smartphone.

However, the popular 3D Touch feature is said to be excluded from the iPhone SE, as Apple is reportedly looking to have it only among its top line of iPhones. The absence of feature was seemingly confirmed by allegedly leaked pictures of the smartphone, which showed its screen assembly. For what it's worth, the new iPhone will pack the new Live Photos feature.

In addition, the latest reports claim that the iPhone SE will be featuring 4K video recording capabilities, with rumors stating that Apple is currently working on a promotional video that will focus on the 4K-capable camera of the upcoming iPhone.

A video taken recently supposedly features an actual iPhone SE unit, spotted in Huaqiangbei, Shenzhen, which is the so-called "Silicon Valley of hardware" in China. The video does not show the iPhone SE running, so the device could be a dummy unit, but it reveals several details regarding the smartphone.

The iPhone SE will apparently borrow certain design elements from both the iPhone 5s and the iPhone 6s, sporting the former's size combined with the latter's round corners and button placements. In addition, the iPhone SE's camera is shown to be protruding from the back of the device, similar to the iPhone 6s.

These are all rumors and reports coming from various sources. It's entirely possible that some information may not be true, but the picture the details are painting regarding the iPhone SE reveals a relatively affordable device that does not sacrifice performance.

For Apple fans who would like to be among the first ones to know the official details about the iPhone SE, they can watch a live stream of the March 21 event through the company's official website. The live stream will use Apple's HTTP Live Streaming technology though, which would require users to watch it using specific devices.

Consumers who would want to purchase an iPhone at an even lower rate, however, would still welcome the launch of the iPhone SE, even if a price of $400 to $500 is out of their budget. This is because Apple is said to be likely dropping the price of the iPhone 5s to between $250 and $350 upon the release of the new 4-inch iPhone, as the previous-generation smartphone will still be sold alongside the iPhone SE.

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