Hello 5C, Goodbye 5C.

According to Taiwan's Commercial Times, Apple will stop producing the iPhone 5c in mid-2015, when Apple suppliers Wistron and Foxconn will no longer produce the device.

Well-known KGI Securities analyst Ming-Chi Kuo predicted earlier this week that the iPhone 5c and iPhone 4S will be discontinued after the promotion ends later in 2015.

The iPhone 5c launched last year is considered a "cheap version" of the iPhone. The 8GB version is currently on sale. Analysts believe that Apple has decided to stop producing the iPhone 5c in order to streamline the iPhone. Apple hopes that all future iPhone products will be equipped with Touch ID (fingerprint recognition system).

Since its launch in 2013, iPhone 5c sales have been lower than expected as more consumers choose the then-flagship iPhone 5s.

To boost sales of the iPhone 5c, Apple placed iPhone 5c ads on popular blogging platform Tumblr and Yahoo late last year. There are also reports that Apple drastically cut iPhone 5c production last year and accelerated production of iPhone 5s to meet consumer demand.