Apple's lineup of flagship phones typically plays it safe, with white, blacks and mellow metallics. Adding red to the lineup would echo the phone giant's cheerier, bolder palette with the iPhone 5C, which also came in the peppy hue way back when. Apple is also known for its affinity for the color due to its involvement with the (RED) charity, which raises money to combat AIDS. The partnership between the two has resulted in a handful of red products in the past.
While a red iPhone flagship would be a huge change, the rumor's source told Japanese Apple blog Macotakara that 2017's 10th anniversary iPhone will be called the iPhone 7S, which would be Apple's convention for odd-numbered years.
Furthermore, Macotakara reported that the iPhone 7S and 7S Plus might not be the overhaul that many in the industry expect, suggesting that the phone will have a new chip (the A11) with a faster processor, though still no wireless charging.
These last two claims contradict earlier reports, but there is a third option (and this is where the plot thickens). Apple could release three new iPhones in 2017, according to prominent Apple speculator Ming-Chi Kuo, an analyst with KGI Securities. Similar to how Apple released the iPhone SE and the iPhone 7 in the same year, 2017 could bring us a (red) iPhone 7S in addition to a more groundbreaking iPhone 8.
Apple did not immediately respond to CNET's request for comment.