Target is returning several iPhone SE models to Apple this week. Does this signal the arrival of a new iPhone SE variant?

The news was obtained by MacRumors via a company memo. The phones that will be returned to the tech giant include six unlocked 16 GB and 64 GB models in Gold, Silver, Space Gray and Rose Gold along with two Sprint versions.

There is a possibility that the return means other than the arrival of a new iPhone SE. The models mentioned above were probably not selling well at Target, or they are being moved around inventory.

Apple, however, is said to be hosting an event this month to launch a new iPad Pro and other gadgets including a 128 GB iPhone SE, with the 16 GB and 64 GB models will still be on hand. Target's clean-up seemingly suggests that they are preparing to stock their shelves with a better iPhone SE.

KGI Securities analyst Ming-Chi Kuo does not believe that Apple will roll out a new iPhone SE in early 2017, though. According to a research note from Kuo, Apple is trying to "maintain high margins on its high-end iPhone models." He also predicted that the company's sales will drop in the first half of 2017 due to the absence of a new iPhone SE, China's low demand for the popular smartphones and dwindling buyers of the 4.7-inch iPhones.

If a new iPhone SE would indeed be released this year, BGR speculated that it will have improved internal specs at par with the iPhone 7. The camera and Touch ID sensor could get better, too, but don't expect a dual camera of 3D Touch in the lower-priced smartphone because that would negatively affect the revenue of Apple's pricier and more advanced smartphones.

The current iPhone SE is powered by the A9 chip like the iPhone 6S. The 4-inch phone has a 12 MP primary camera.

Last month, it was reported that Apple will start production for the iPhone SE in India in April, The Economic Times reported. India is now the second biggest smartphone market in the world. Estimates indicated that nearly a billion smartphones will be purchased by consumers in India.

Apple has partnered with Wistron for the venture, with the latter managing iPhone SE's assembly in Karnataka. In return for doing this huge business in India, Apple wants tax breaks and reduced duty rates.

Do you want a new iPhone SE? Why or why not? Sound off in the comments section below.