Good news for those of us with both smaller hands and tighter budgets. It looks like rumours of a upgraded 4 inch iPhone are true. The iPhone 6c, as it will likely be called, is slated to come out early next year according to KGI securities analyst Ming-Chi Kuo, who has a strong track record in predicting Apple’s future product plans.

The new phone will come in the existing body of the iPhone 5s, thus phasing out that model, which is currently the only phone in Apple’s lineup with a 4 inch screen. It will most likely be available in 2 or 3 colors: the existing gold, space grey, and silver options, although we’re still keeping our fingers crossed for the rose gold option.

Enough about colorways, though, since most of us immediately customize our phone with adorable cases. The most important upgrade will be the inclusion of the A9 chip, which is the processor that powers the iPhone 6 and 6 plus. It will also feature the curved edges of the bigger iPhone models and Apple Pay. It is unlikely to feature the pressure sensitive Force Touch screen or an upgraded camera, and will retail somewhere in the $400-500 range.

This is the first time Apple has produced an iPhone smaller than its predecessors. Insiders say it has less to do with consumer pressure and more to do with Apple’s desire to gain popularity in other countries and those with limited budgets, a market that Android has long dominated.

For those of us who are tired of needing more room in our pockets to hold our iPhones, this is a very welcomed change.