They are moving down the market with their rumored iPhone 6c. It's basically an upgraded iPhone 5s for those that want a smaller phone - which also happens to be cheaper.
I've asked my daughter if she wants to upgrade from her iPhone 5 but she likes the smaller size compared to my iPhone 6 which is considered small these days.
I think that India is a target for the 6c. BTW, I'd consider a 6c if the specs were decent as there are times when 4.7 inches feels big. I could go running with a four inch phone but 4.7 inches won't fit in my pockets.