The imminent release of an all-new 4 inch iPhone is no longer a secret.  This was further witnessed when Apple CEO Tim Cook posted a video on weibo demonstrating the pairing of China's release of Apple Pay with the phone.  From the video, we see a smaller iPhone (relative to the hand holding the phone) with a thinner side bezel that we have not seen before on any of the iPhones on the market.  So everyone is speculating this to be the new iPhone 5se that is to be released when Apple holds their March 15 event. Stay tuned.
View the 10 second video here: https://www.youtube.com/watch?v=w9X_8b9dPGI
Image courtesy of china.hket.com