The shiny edges of the iPhone 5S will be replaced by curved glass edges in the upcoming iPhone 5SE, and the same Silver, Space Gray, Gold, & Rose Gold color options will be provided to users.

Apple tapped into a crucial market when it unveiled its bigger-screen 6 and 6 Plus phones in 2014, grabbing the attention of Asian customers, who had previously lapped up phablets from players such as Samsung Electronics 005930.KS . Design-wise, the leaked device is similar to the iPhone 6s, albeit smaller.

It is pictured next to an iPhone 5 for scale, showing that the new device will be roughly the same size as its predecessor, with a 4-inch display.

IPHONE 5SE? The iPhone 5s versus the a reported leak of the iPhone 5se.

On the connectivity front, the iPhone 5se will come out supporting features such as, VoLTE, Bluetooth 4.2, and 802.11ac Wi-Fi, which were again seen on the iPhone 6s. A near-field communication (NFC) chip will be incorporated to allow the phone to use Apple Pay, and it will also include camera support for larger panoramas and autofocus for video recording. The iPhone 5s will be on discount as the iPhone 5se releases reportedly in March this year.

It will sell alongside Apple's existing phones, the iPhone 6s and 6s Plus, which launched in September. The new "se" version will apparently have upgraded software and hardware, blending features of both the older phone model and tweaks that have come with the past two iPhone upgrades. The latest report also suggests that Apple is planning to announce this as soon as March 2016.

It will officially be released in March while a new iPhone 7 is expected to be released later this year, according to Business Insider.

Equipping the iPhone 5se with A9 chip would not only boost the speed of the handset relative to the original 5S, but also enable an always-on Siri on it. A possible iPad Air 3 may be included in the roster but what's not clear is, whether the company intends to hold a live event or if it will simply launch the new products on its website.