Here’s What Apple Will Announce in March by Jason Cipriani @FortuneMagazine January 22, 2016, 5:58 PM EST E-mail Tweet Facebook Linkedin Share icons The latest set of Apple rumors comes courtesy of 9to5Mac’s Mark Gurman, who has a solid track record when it comes to preannouncing Apple products. His latest scoop details the oft-rumored 4-inch iPhone, which had previously been referred to as the “iPhone 6c” for lack of a better name. He followed up that scoop with details surrounding Apple’s plan to update the Apple Watch. According to Gurman, the unannounced iPhone will carry the name “iPhone 5se” and will bear a resemblance to the older iPhone 5s. The “se” moniker either stands for “special edition” or “enhanced” according to the report. Get Data Sheet, Fortune’s technology newsletter. Introduced in 2013, the iPhone 5s is still available from Apple aapl as a free device with select wireless carriers, or at a full price of $499. Comparatively, the iPhone 6s starts at $649 without a contract. Despite its low price tag, the iPhone 5s is quickly becoming outdated. Watch Jeb Bush get confused when answering his Apple Watch: For the iPhone 5se it appears Apple is intent on keeping the same basic design while updating the processor used to power the device, and including features currently found on the latest iPhone 6. Gurman’s source indicates the iPhone 5se will include an updated 8-megapixel rear camera, a curved glass design (similar to the iPhone 6/6s), and the ability to capture Live Photos—a feature only available on the iPhone 6s and 6s Plus. Why would Apple bother with updating a smaller iPhone after having increased the screen size of its flagship line to 4.7 and 5.5 inches, respectively? There are a couple of reasons. Apple has long enjoyed the lion’s share of smartphone profits thanks in part to its high-end devices and the pricing that accompanies them. But as the global smartphone market becomes saturated, Apple will need to look to untapped markets for continued growth. India is one such market where smartphones are typically priced on the low end. In fact, Apple recently filed the necessary paperwork to begin opening its own retail shops in the country. Currently Apple relies on a network of third-party retailers in the country. For more read Apple’s iPhone 6S, 6S Plus far more than just minor upgrades A smaller iPhone would presumably come with a smaller price tag, benefiting Apple in emerging markets such as India. Another reason is that some people still prefer smaller smartphones. In a market where nearly every Android manufacturer has adopted the “bigger is better” motto, it’s become increasingly harder to find a smartphone with a screen under 4.7 inches. Contrary to earlier reports, Apple will not announce the second version of the Apple Watch in March. Instead, the company is planning to announce new bands, colors, and partnerships similar to its deal with luxury brand Hermès for custom Apple Watch variations, according to the report. Alongside new bands, Apple is said to be prepping a software update for the Apple Watch. The update will reportedly include the option for users to pair more than one Apple Watch with an iPhone and an improved maps app on the watch. Apple is now expected to announce the second-generation Apple Watch this fall, according to the report. Also in the cards for Apple’s mid-March event is an updated iPad Air 3. Gurman warns—as often happens with any Apple rumors—that the company can change plans, and one or more products could not be ready for a March announcement.