Leaked iPhone SE packaging image hints at some features of the unannounced Apple smartphone.

The rumor mill is in the overdrive with speculations of the iPhone SE, which Apple may launch along with the 9.7-inch iPad Pro at an event on March 21. An image of the iPhone SE packaging has leaked on Weibo and suggests that the upcoming mobile phone may be available with 16 GB on-board storage. If the leaked image is to be believed then the iPhone SE may also support Apple Pay.

Apple's flagship smartphones attract millions of customers all over the world. However, not everyone can afford to buy these smartphones. The iPhone SE is a 4-inch iPhone, which is expected to include some features found in the flagship iPhones but have a lower price tag.

Apple launched its mobile payment system — Apple Pay — in October 2014 and the service is compatible with select iDevices such as iPhone 6, iPhone 6s and more. Apple may include the Apple Pay in the iPhone SE as the leaked packaging image of the phone shows support for NFC — a requirement for the payment service.

The leaked iPhone SE image can easily be photoshopped; however, previous rumors have suggested that Apple's next pocket-friendly smartphone will support Apple Pay.

Many smartphone enthusiasts are waiting to get the first glimpse of the iPhone SE and a previous report suggests that the device was spotted at Huaqiangbei Shenzhen, China, the so-called "Silicon Valley of hardware" in China.

The iPhone SE is also rumored to get 12-megapixel rear-facing and 8-megapixel front-facing cameras. The A9 processor found in the iPhone 6s and the iPhone 6s Plus is estimated to power the iPhone SE as well.

The Apple iPhone is said to borrow design aspects from the iPhone 6 and the iPhone 5s. However, unlike the flat corners of the iPhone 5s, the iPhone SE is estimated to get curved corners as found on the iPhone 6 and the iPhone 6s.

Apple introduced its fingerprint recognition technology called Touch ID for the first time in the iPhone 5s, which was launched in 2013. The technology is available in all smartphones launched since the iPhone 5s and rumors also hint that the iPhone SE may also get Touch ID.

"Using a highly advanced fingerprint sensor that's now faster and better than ever, Touch ID makes unlocking your phone easy and secure. And it lets you use Apple Pay at over a million stores and within participating apps," says Apple.

March 21 is not far away and iFans will have to wait another few days to see if Apple will launch iPhone SE.

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