Apple may not come out with a 4-inch iPhone 6c after all. Despite some recent reports saying the phone would arrive in the fall, that may not be the case. In an investor note, Cowen and Company analyst Timothy Arcuri said Apple had plans for a 4-inch iPhone but dropped them. Arcuri said Apple could have been worried the smaller phone would "cannibalize" iPhone 6s and iPhone 6s Plus sales.

There were signs of the smaller iPhone 6 in Apple's supply chain between January and March 2015, but those signs have disappeared.

Like most analysts, Arcuri doesn't have a perfect track-record with his reports and there are other sources that have continued talking about a 4-inch iPhone.