Apple iPhone 5S is expected to be available with a major price cut following the announcement of the iPhone 5S. The device is likely to be available for only $225.

Apple is expected to unleash the iPhone SE (Special Edition), a 4-inch metal-clad smartphone on March 21. It is speculated to go sale from March 25. It will be priced between $400 to $500.

The lowest and highest configuration model of the iPhone 6S are currently priced at $649 and $849, respectively. According to Ming-Chi Kuo, an analyst from KGI Securities, the iPhone 5S that was launched in 2013 will be available with a major price cut of up 50 percent around the time Apple iPhone SE gets announced, Mac Rumors reported.

By lowering the price of the iPhone 5S as well as launching an iPhone SE, Apple is expected to attract more customers to its 4-inch iPhone segment. Hence, the Cupertino company aims to ship 37 million units of 4-inch iPhone shipments in this year.

iPhone 5se Apple's anticipated 4-inch iPhone SE may replace the aging iPhone 5S, which first went on sale in 2013. Photo: Reuters/Kim Kyung-Hoon

The analyst is of the view that numerous will opt to purchase the massively discounted iPhone 5S than the new iPhone SE. Hence, the company is expected to ship 12 million iPhone SE units and 25 million iPhone 5S units in 2016.

The iPhone 5S comes with a 4-inch Retina display. It is powered with the older Apple A7 SoC and M7 motion co-processor and 1 GB of RAM. It features an 8-megapixel ISight camera whereas the front-facing camera is of 1.2-megapixel. It features a Touch ID fingerprint sensor and is packed with a 1560 mAh battery.

On March 21, Apple is also predicted to unleash a 9.7-inch iPad Pro at the iPhone SE launch event. Rumors indicate that the company will also reveal newer band options for Apple Watch. The launch event will be held at Town Hall Center, California.