Apple iPhone 5S is expected to be available for $225 from this month.

After releasing the iPhone 5S and iPhone 5C smartphones in 2013, Apple has not released a 4-inch smartphone. Rumors are rife that Apple will be announcing a new 4-inch iPhone that is dubbed as iPhone SE (Special Edition) on March 21.

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According to the well-known analyst, Ming-Chi Kuo from KGI Securities has predicted that the release of iPhone SE will result in reduction in the price of the iPhone 5S by 50 percent. The regular price of the iPhone 5S is $450. The upcoming price cut will make the iPhone 5S available for $225, Mac Rumors reported.

The alleged iPhone SE is priced around $400 to $500 in the U.S. However, the company is expected to aim the smartphone towards emerging markets like China and India. Apple is expected to increase the shipments of its 4-inch iPhones by 131 percent by shipping 37 million units in 2016.

Since the iPhone 5S is expected to sell at irresistible price tag of $225, more buyers are going to choose it over the costlier iPhone SE smartphone. Hence, out of the 37 million units, the Cupertino tech giant will be shipping 27 million units of iPhone 5S smartphones and it will be shipping 12 million units of the upcoming iPhone SE.

The existing flagship smartphones from Apple, the iPhone 6S and iPhone 6S will continue to sell at their respective pricing of $649 and $849 for the lowest and highest configuration models. The pricing of the iPhone 6S and iPhone 6S Plus are expected to reduce when the probable arrival of iPhone 7 and iPhone 7 Plus in September draws near.

Apple is speculated to hold a launch event on March 21 to unleash a 9.7-inch iPad Pro alongside the iPhone SE smartphone, Phone Arena reported. The 9.7-inch iPad Pro will be the successor model for iPad Air 2 from 2014. However, since it borrows most of its specifications from the 12.9-inch iPad Pro, the iPad Air 2 successor is expected to launch as 9.7-inch iPad Pro.

On March 21, Apple is also expected to make announcement on new strap options as well as software update for the Apple Watch. The iPhone SE and 9.7-inch iPad Pro are both expected to be available for purchase by March 25.