Apple is said to be working on three new iPhone models set to be released later this year. There will be two high-end models the 6s and the 6s Plus and a cheaper model the 6c, BGR reports.

The rumors come from Digitimes. The site has revealed multiple details on the expected phone including the chip it will use.

The iPhone 6c will be a smaller iPhone, likely having a 4-inch screen. The device will allow Apple to put its latest features like the Touch ID, Apple Pay and the Health App into a smaller, more affordable device.

TSMC will provide the A9 chips for the new iPhone 6c. They will be just as powerful as the current iPhone 6 models.

Despite being just as powerful as the current iPhone 6 models, the new iPhone 6c will be made of plastic instead of metal. Making the devices out of plastic will allow Apple to decrease their production costs and ship out more devices.

Apple could sell up to 20 million of the new iPhone 6c phones in its first year, sources say.

The cost of the iPhone 6c is expected to be between $500-600 without a contract. 

Bigger-screened smartphones have become popular, but some people, especially those with smaller hands, still prefer smaller screens for their devices, especially those with smaller hands.

The new devices are expected to have the strong Gorilla Glass display. Gorilla Glass prevents screens from scratching. 

Besides being made of plastic and having a smaller screen, the iPhone 6c will be identical to the iPhone 6. It will have nearfield communication (NFC) to allow for mobile payments and the Touch ID system to keep the phone secure. When Apple released its iPhone 5c, it was missing the Touch ID sensor and had an old processor and camera.

If Apple releases these three new models, it will likely be in the late summer or fall. 

Do you prefer big-screened smartphones or those with smaller screens? Leave a comment below and let us know what you think.