Apple's next budget iPhone looks like it might be a powerhouse.

Apple is reportedly developing a new 4-inch iPhone that will feature the same screen size as found on the iPhone 5S, but the latest rumours indicate it will also feature several internal upgrades, including more RAM. has claimed the iPhone 6C (thought to be the name of the upcoming phone) will debut with 2 GB of RAM, just like the iPhone 6S and iPhone 6S Plus. It might also feature an A9 processor to make it as speedy as the iPhone 6S. It's even speculated to sport a 1,642mAh battery, which is 72mAh more than what the iPhone 5S offers.

Beyond those internal specs, the small device could pack a slightly curved "2.5D" glass. That's, again, similar to the iPhone 6 and iPhone 6S and their curved edges. Alleged sources at Apple's manufacturing partner, Foxconn, claimed we can expect this 4-inch iPhone to go into production in January. It's pegged for an early 2016 launch as well.

The screen size will likely be 1,136-by-640-pixel resolution, while the new handset is also rumored to have an 8-megapixel camera. Overall, the iPhone 6C should look a lot like the iPhone 5S and is said to come in three colours (space grey, gold, and silver). But don't expect this device to be too cheap.

The iPhone 6C will supposedly start at 4,000 yuan ($617/£416), meaning it will cost more than the entry-level iPhone 5S. We should know more by March, as Apple is believed to be planning a press event for then.

READ: Apple iPhone 6C: What's the story so far?