Rumor has it Apple could unveil three smartphones later this year, including a 4-inch iPhone 6c, but a new report suggests we may have to wait a bit longer for the cheaper device. According to KGI Securities analyst Ming-Chi Kuo, the iPhone 6c may not arrive until next year instead.

Kuo’s latest analyst note, which was obtained by MacRumors, argues that Apple has no reason to release an iPhone 6c in 2015. “The iPhone 5s is still going strong,” he writes, adding that Cupertino may not need a new 4-inch handset until 2016. That means the iPhone 5s could move to the lowest rung in Apple’s lineup later this year, replacing the iPhone 5c.

Based on earlier leaks, we were expecting the iPhone 6c to include NFC and TouchID for Apple Pay support, along with an upgraded A9 processor. Instead, we may be stuck with the iPhone 5s, which packs an older A7 chip and Touch ID, but lacks NFC.

Kuo doesn’t offer a specific launch window for the new 4-inch iPhone beyond sometime next year. We won’t know until closer to launch, when leaks start to pick up, whether or not his prediction is accurate.