4.6-inch 720p display, quad-core, water resistant

We have it on good authority that Sony will shortly launch a new Xperia model called the Xperia ZR. This is believed to the same handset codenamed Dogo with model number C550X. In terms of specifications, the Xperia ZR will have a 4.6-inch (720 x 1280) display, a 1.5GHz quad-core Qualcomm S4 Pro chipset (we’re not sure if this is the newer 600 series), 2GB RAM, a 13MP Exmor RS camera sensor, 8GB internal storage, microSD memory card support and a 2300mAh battery.

The Xperia ZR will also be water resistant with an IP55/IP58 rating. This is higher than the IP55/IP57 rating of the Xperia Z and can be exposed to 1.5 metres of water for 30 minutes. The design of the handset is more akin to the Xperia ZL than the Xperia Z with its glass body. Whilst we don’t have firm details on dimensions and weight, we understand it will be slightly above 10mm in thickness and around 140g in weight. That’s all for now, but we’ll bring you more news as we have it.

http://www.xperiablog.net/2013/04/26/xperia-zr-coming-soon-4-6-inch-720p-display-quad-core-water-resistant/

Definitely not a flagship. It is highly unlikely that they'd put Qualcomm 600 in it.

Sony really need to work on their naming method though. Z ZL ZR S SP SL... Come on. If they are smart, next year flagship would be called Xperia Z II

i really hope this is true! if this is this is basically like a smaller xperia Z that will probably be cheaper. i dont care one bit about the lower res of the screen since it would never show on a small screen like a 4.6". and 8 GB's of internal storage is more than enough for me if it has a memory card slot. heck i think 8GB is enough anyways