Sources reporting to the 9to5Mac blog claimed instead that Apple is working on an enhanced version of the iPhone 5s, tipped to be called the iPhone 5se.
Now an image has appeared online which seems to show the 4-inch 5se alongside the iPhone 5.
It first appeared on the One More Thing forums, which have a good record of revealing devices before their release.
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Previously the forums have leaked accurate examples of the iPad Air 2 display and iPad Air design before launch.
The latest image seems to show an iPhone with rounded edges and the power button in the same position as on the iPhone 6.
Last week's report on the forthcoming 5se claimed that the handset would include curved glass edges and an 8-megapixel rear camera.
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It is also rumoured to feature an NFC chip and the A8 and M8 processors from the iPhone 6, although 3D Touch was ruled out.
The new device is also reportedly due for a late March, early April launch, ahead of Apple's next flagship handset, the iPhone 7, which is rumoured for a late September release.
There's obviously been no official word from Apple on the new image but if it isn't real, it's certainly a sophisticated fake.
Will you be buying a 4-inch iPhone? Let us know in the comments.