A Low End iPhone from Apple, hard to imagine they would even consider it, unless they could find a way to cut their costs......
KGI Securities analyst Ming-Chi Kuo issued a note to investors on Wednesday, a copy of which was obtained byMacRumors, reiterating that Apple is unlikely to launch a new 4-inch iPhone this year. Kuo, who has a respectable track record at reporting on Apple's upcoming product plans, added that Apple will instead likely release a new 4-inch iPhone with Apple Pay compatibility in 2016.
http://www.macrumors.com/2015/04/22/4-inch-iphone-2016-ming-chi-kuo/