Latest rumor says Apple's 4-inch iPhone will be called the 'iPhone 5e'

Recent rumors have suggested that Apple is preparing to release a new 4-inch phone, with a design similar to the iPhone 5s, and that this phone would be a new member of Apple's lower-end "C" lineup. However, a new report from Chinese website MyDriver claims to have updated information from Apple's supply chain sources, revealing the 4-inch device will debut a new name: the "iPhone 5e."

While the "c" in the iPhone 5c stood for "color," MyDriver is claiming the "e" in this case stands for enhancement.

The enhancements in addition to re-introducing the 4-inch form factor back into the iPhone line are support for Apple Pay, NFC, and VoLTE. As for a release date, MyDrivers pegs it as March, which would compliment previous reports that Apple will hold a Spring event later this year.

On the specs side, the iPhone 5e will allegedly come in both 16 and 64 GB configurations and will include an 8MP camera and A9 processor; although an A8 processor and 1GB of RAM may be used in order to hit a 3288 Yuan ($500) price goal.

Because MyDriver has a mixed track record when it comes to reporting on Apple, the reported specs should be taken with a grain of salt. However, this new information only adds more fuel to the fire that a new smaller-form iPhone is on the way.