Reports coming from China indicate that Apple has commenced mass production of its 4-inch smartphone that will take the name iPhone 5E, suggesting that the device is an enhanced version of the iPhone 5S. On release date, the 5E will sell at around $500.

Long-time Apple manufacturing partner Foxconn is already building the iPhone 5E, according to Apple Insider, pointing to Chinese blog site My Drivers as source of its information. The device is reportedly packaged as a mid-range iPhone that will be offered in two storage configurations - 16GB and 64GB.

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While the handset will be relatively cheaper compared to the regular iPhone models, the same report echoed the earlier speculations that like the 5S the iPhone 5S will be wrapped in premium glass and metal materials.

The insides of the device will be headlined by an A8 processing chip that will work in tandem with 1GB of RAM. This debunked the recent suggestions that the smallest of the iPhones will unbox packing an A9 mobile chip and paired with 2GB of RAM, Apple Insider noted on its report.

It was hinted too that the 5E will roll out in three color options though the My Drivers post did not specify on this. It is expected, however, that variants of black, gold and white will be among the choices for consumers to pick.

On the design department, while the iPhone 5E is being touted as the successor to the iPhone 5S, its industrial is said to take a direct page from the iPhone 6 and 6S. That means the 4-inch iPhone will sport a curved 2.5D display and not the flat 2D cover glass found on the 5s, the report said.

As for the device's launch date details, Apple is reported to hold a news briefing on March 2016 and the tech giant is believed to use the occasion to introduce two key devices - the second-generation Apple Watch and the iPhone 5E.

And as usual the case, the iPhone 5E release date is predicted to follow just weeks after the device's unveiling, likely anytime on April 2016, with the latest version of iOS 9.xx powering the handset.