Apple are working on a smaller iPhone which will have a 4″ display. It will be considerably cheaper than the iPhone 6s and 6s Plus. According to various reports, there will be some compromise on specs and it will be less powerful than the current generation iPhone 6s and 6s Plus but it will be alike iPhone 6 Plus.
It is believed that Apple will launch this phone as an upgrade to iPhone 5s. Apple will mass-produce this new 4-inch iPhone with metal casings. In order to make the current iOS 9 or next-generation iOS 10 run smoothly, Apple may adopt an A9 chip for this new phone. But most rumours have suggested the use of A8 chip.
Other upgrades include improved FaceTime HD camera with f/2.2 aperture. Connectivity options in the iPhone 6c will be Wi-Fi 802.11 ac and Bluetooth 4.1. iPhone 6c will go in production soon and will be launched in the middle of next year.