After introducing their large screen smartphones, Apple Inc. is reportedly planning to release a smaller, entry-level iPhone in the coming days.

A new report posted on the Chinese tech site CNBeta claimed that a four-inch iPhone model, rumored to be called the iPhone 5e, is currently under development.

The post mentioned that the letter "e" in the iPhone 5e means "enhanced," which pertains to the improved version of the tech firm's iPhone 5s that was released in September 2013.

The report also stated that the specs of the rumored iPhone 5e include a four-inch Retina display, 1 GB of RAM, as well as the tech firm's 64-bit A8 processor. It means that the rumored device will serve as Apple's latest entry-level smartphone that reportedly looks like a sixth-generation iPod Touch.

Meanwhile, a separate report from Mac Otakara claimed that the upcoming device, which is also referred to as the iPhone 5s 2^nd generation, will have a 122.90 millimeters ​​by 57.63 millimeters dimension. It will also come with the latest technologies from the Cupertino-based tech giant, including the Touch ID that could support Apple Pay, VoLTE, and NFC. The new entry-level smartphone could also come with an 8-MP camera and could be sold in 16 GB, 32 GB, and 64 GB storage options and will be powered by a 1,642-mAh battery.

Other rumors also claimed that the iPhone 5e will come out in the market in various vibrant colors such as the signature space gray, gold, silver, blue, pink, and rose gold.

International Business Times reported that the rumored iPhone 5e is being manufactured by Foxconn, and it will be launched in the market for about $500 upon release.

Other rumors claim that the Cupertino tech firm is planning to unveil the iPhone 5e together with their other new devices, such as the iPad Air 3 and Apple Watch 2, in March. However, the company has yet to confirm the said rumors.