According to 9to5Mac, Apple will most likely call the device the 'iPhone 5SE'. Dropping the "5" and leaving the "SE" will focus more on the phone's "enhanced and special edition" status.
"Based on Apple reinvigorating the 4-inch iPhone screen size at a time where the market is mostly moving toward larger smartphone screens, it would make sense for Apple to position this device as simply the “SE.” Sources say that the dropping of the “5” from the name also simplifies the iPhone lineup as bringing back an iPhone “5” variant amid the iPhone “6” lifecycle could potentially confuse customers. The iPhone SE will replace the existing iPhone 5s and will take its price points."
Market research has shown that nearly one-third of iPhone owners are still using 4-inch screen. The device is rumored to feature an A9 processor with M8 chip, "Hey Sir", Apple Pay, Live Photos and more.
