Apple's forthcoming budget iPhone might not be the much rumoured iPhone 6C after all.
According to one report, the tech giant is readying a smartphone dubbed the 'iPhone 5SE' to take over from the iPhone 5S as its most affordable handset.
The 'SE' apparently stands for 'Special Edition', according to sources.
It would borrow some, but not all, features from the iPhone 6S. And in so doing, offer a suite of features that most budget blowers can only dream of.
Here's why we're excited.
1 Small would be beautiful
Like the iPhone 6C, the SE would have a 4-inch screen, which is the same size as the iPhone 5S.
While that's considered small by today's standards, it's the perfect size for a sizeable minority of people who feel the 6S and 6S Plus are too big.
Its smaller dimensions would make it easier to handle, as well as less prone to slipping out of hands. And it'd make the handset fit easier in a bag or pocket too.
Admittedly it would be less useful for watching films, but plenty of people are happy to forego that and just use the phone's basic functions.
2 A new look
While the SE will be the same size as the 5S, it will reportedly take some design cues from the iPhone 6 and 6S.
This will see Apple drop the sloping, shiny edges of the 5S in favour of the curved glass found on later iPhones.
The iPhone SE will also come in the same three colour options as the 6S: silver, space grey and rose gold.
However, in general it will still look like the 5S, despite that model being more than two years old.
The result sounds like a hybrid 5S/6 mash-up.
Apple isn't one to make ugly phones, so we have faith it will look suitably stunning.
3 Better cameras
It's not just the curved glass that it will borrow from later iPhones. According to the report, it will also use the same camera tech.
While it will retain the same 8-megapixel rear camera and 1.2-megapixel front-facer as the 5S and 6, it will reportedly support Live Photos.
This captures a couple of seconds of video footage before you take the photo, so you can put the snap in context.
Plus it will support larger panoramas and have autofocus for video recording.
4 Apple Pay
The SE will also be the first 4-inch iPhone to support Apple Pay, according to the report.
In other words, it will come with Near Field Communications (NFC) technology embedded that lets you make contactless payments from your phone.
It works in a very similar way to a contactless card. You just hold your finger on the Touch ID button, tap your phone on the card reader, and the payment goes through. Simple.
Apple has led the way with mobile payments in the UK, so it makes sense to bring it to the most affordable iPhone too.
5 Upgraded insides
The iPhone SE will also be more powerful than the iPhone 5S.
We're expecting the A8 and M8 chips as seen in the iPhone 6. The iPhone 5S features the previous generation A7 and M7.
That means we're potentially looking at a phone that's as powerful as an iPhone 6, in a package the size of the 5S and with a look that's somewhere between the two.
If you're happy to forego top-of-the-range features like 3D Touch and its array of gesture-activated shortcuts and prefer the smaller size, it could be the iPhone for you.
Deals for the iPhone SE are now available - find them here..