After Apple launched the bigger-than-ever iPhone 6 and 6 Plus, the company considered releasing the same handset with the familiar four-inch screen size.

But the so-called "iPhone 6C" hit the cutting room floor and Apple enjoyed huge sales of the 6 and 6 Plus models. But with those two handsets on the market with no sign of slowing down, and in an in-between year, the 6C could hit shelves at some point in the coming quarters.

An analyst at Cowen and Company, Timothy Arcuri told Business Insider his sources indicated Apple ordered the necessary components for suppliers, but the device never materialized. Arcuri said he also checked supply records on his own and his findings were in line with what he learned.

"I think one of the reasons is because the iPhone 6 has sold so well," Arcuri said. "And they said, 'Look, why would we want to cannibalize? If we came out with an iPhone 6C, we would essentially cannibalize a price-reduced iPhone 6.'"

Apple appears to be developing an "S" iPhone for this fall, which became tradition since releasing the 4S in between the 4 and the 5 models. Apple may also be looking to pick up a new tradition with a "C" model as well.

Two autumns ago, the iPhone 5C was the lower-priced alternative to the 5S, and Apple is now in another one of those in-between years.

According to Business Insider, a note from the Jeffries analyst firm states the iPhone 6C could be released in the first quarter of the 2016 fiscal year. The firm indicated it would be the iPhone 6, only in a metal four-inch shell.