iPhone 7, 7 Plus Release Date & Price: Smaller 4-inch Happening; New iPhone 5S With iPhone 6, iPhone 6S Features in Development [Rumors]

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Although sources indicate that Apple won't be introducing another flagship until September 2016, the web has been rife with rumors about the iPhone 7, as well as a successor to the iPhone 5S. Here is what we know so far.

A recent concept video featured on iPhone-Tricks reveals a borderless iPhone 7 sans the Home Button. According to the news report, the design is based on some of the more recent rumors such as the integration of the Touch ID, use of the iOS 10, bigger battery and removal of the 3.5mm headphone jack port.

Based on the video, Express says the removal of the 3.5mm port will make the new flagship the slimmest model for Apple. Not everybody appears to be ecstatic with this development as more than 290,000 people have petitioned the Cupertino company to retain the audio port.

Another video turning heads is the alleged 4 inch iPhone 6c.

A recent report from 9toMac says the video is fake. Apple does not have any plans of making another iPhone 6 but one under the iPhone 5S line.

Smaller than the 4.7 and 5.5 inch smartphones, the 4 inch device will likely be referred to as the iPhone 5SE. Apple insiders say that the SE may mean "special edition" or "enhanced."

The smaller iPhone model will retain the look of the 2013 flagship with some of the features of the iPhone 6 and 6S. Forbes says the 5SE will feature curved glass edges and will be made available in 6S colors: silver, space grey and rose gold.

According to Verge, this means the iPhone 5SE will have an 8MP camera at the back and a 1.2MP selfie camera, an NFC chip, A8 and M8 processors and faster Wi-Fi connection.

One surprising feature is the inclusion of the Live Photos feature on the 5SE. The Mac news site says the 5SE will not be having a pressure sensitive screen.

Apple is expected to announce the iPhone 5SE sometime during the last few weeks of March or early in April. This coincides with the release of the new Apple Watch.

The iPhone 5SE is rumored to replace the 5S, indicating that the price will be around $450.

PC Mag says once the iPhone 7 is released and the iPhone 5 is discontinued, this will leave Apple with three models: the 5SE, 6S and the iPhone 7. This means consumers will be able to choose between the flagship, a cheaper iPhone and a smaller model.