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Apple is expected to revive the 4-inch iPhone at its press event March 21st.

The new device, which some believe will be called the iPhone se, will offer a much faster processor and rounded edges in the style of the iPhone 6 and 6s.

The new 4-inch phone will contain near field communications (NFC) to enable Apple Pay mobile payments. Apple's animated Live Photos will be supported. The cameras will be the same 8-megapixel rear-facing camera and 1.2-megapixel front-facing camera as in the iPhone 6 and 6s lines. It will not have the new pressure-sensitive "3D Touch" contextual pop-up boxes introduced with the iPhone 6s. Many of the other specs, like the camera, will be similar to those of the iPhone 5s.

The new phone will reportedly use the same A9 processor M9 graphics chip used in the 6-series iPhone.

The device is expected to be available in the same colors as the iPhone 6 and 6s—Silver, Space Gray, Gold, and Rose Gold.

The price of the new phone is still not known. A source says that the "iPhone se" will price at between $400 and $500, but other reports have put the new device at $549.

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