The Apple Logo Is Pictured Inside The Newly Opened Omotesando Apple Store At A Shopping District In Tokyo
Check out the cool and useful features of the new Apple iOS 9. Pictured above: The Apple logo is pictured inside the newly opened Omotesando Apple store at a shopping district in Tokyo June 26, 2014. Reuters/Yuya Shino

The upcoming 4-inch iPhone SE will be able to drive existing Apple users to upgrade their iPhone this year, allowing the Cupertino tech giant to sell up to 15 million iPhone SE units in 2016, a research analyst at RBC Capital Markets believes.

Apple Insider reported that in a note to investors, Amit Daryanani, renowned researcher at RBC Capital Markets, predicted that the debut of the smaller iPhone will appeal to budget conscious consumers who prefer a smaller form factor.

A recent Australian Smartphone and Wearables Devices Market Study by research firm Telsyte had found that almost half of iPhone users are yet to upgrade their handsets to the larger iPhone 6 or iPhone 6s models.

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Daryanani believes that the launch timing of Apple's new smartphone -- set to take place next week -- will also be a 'key' contributor to the success of the iPhone SE. Unveiling the new 4-inch iPhone in late March should leave enough of a gap before Apple’s anticipated launch of its iPhone 7 in September.

Prevailing rumours indicate that Apple’s new 4-inch iPhone SE will resemble the company’s latest flagship, the iPhone 6s, although there are conflicting rumours that the device will borrow components from the iPhone 5s.

However, the iPhone SE is slated to come packed with upgraded hardware specs including the latest Apple A9 processor, 2GB of RAM and 16GB of internal storage capacity.

Previous rumours have suggested that the iPhone SE will be priced at $449 (AU$587), while Daryanani foresees that the device will be little more expensive, starting from $549 (AU$718).

Other iPhone SE specs include support for always-on Siri, and an NFC chip to support Apple Pay. The device is also tipped to sport a 12-megapixel iSight camera unit similar to the high-end iPhone 6s. The iSight camera is said to come with support for Live Photos.

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But Apple’s much anticipated 4-inch iPhone SE will not sport the company’s path-breaking 3D Touch, the pressure sensitive display technology which is found on the latest iPhone 6s and iPhone 6s Plus.

Apple has already sent out press invitations for an event scheduled on March 21 at Apple's headquarters in Cupertino, California. Apart from its most affordable entry-level 4-inch iPhone SE, the tech giant is also widely tipped to unveil a 9.7-inch iPad Pro at the event.

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