Analyst: 4-inch iPhone will ship 12 million units in 2016

In a note to clients — as noted by AppleInsider — KGI analyst Ming-Chi Kuo says Apple's rumored 4-inch iPhone is about to enter mass production and is estimated to ship 12 million units in 2016 with a price of $400 to $500.

Driven by a low 2015 base and an aggressive pricing model, total 4-inch iPhone shipments will grow 131% year-over-year to 37 million units, he adds. The analyst thinks the Apple smartphone will sport an A9 processor, 12-megapixel rear-facing camera and NFC support for touchless Apple Pay transactions.

9to5Mac says Apple has decided to drop the “5” from the 4-inch iPhone’s name and simply call it the “iPhone SE.” This will mark the first iPhone upgrade without a number in its name and would logically remove it from a yearly update cycle.