The 4-inch iPhone SE--Apple has reportedly dropped the "5"--is going to feature a 12 megapixel camera, according to a research note from KGI analyst Ming-Chi Kuo. Earlier reports had pointed towards an 8-megapixel camera for the phone, but that may not be the case.

Kuo has also confirmed some earlier claims, such as that the iPhone SE will have an A9 processor, AC WiFi, Bluetooth 4.2, and NFC. It's been reported Apple will sell a 16 GB model and a 64 GB model.

Based on Kuo's analysis, Apple will charge between $400 and $500 for the phone.

The iPhone SE should be unveiled during a media event in March.