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It's hard for me to say actually. Easiest way is for you to visit a store that sells the phone and compare to another Xperia M4 Aqua.
Hi @ashish_59
I suggest you to first run a backup of the device information: How to backup?
Then perform a system repair using PC Companion. This will factory reset your phone and erase all data. You might need to
charge your device for about 1-2 hours before so the device has at least 80% battery. Make sure the device is not connected
to computer or laptop and turned off (sometimes you have to press power button and volume up until the device vibrates 3
times or on some devices you have to press the small button near the SIM tray or on the back of the device). Start PC
Companion and select Support zone then Update my phone/tablet then in Blue Repair my phone/tablet and follow the on screen
instructions - When prompted connect your phone still switched off holding volume down or back button - This should start the
repair or reformat process. If you are using Windows 8/8.1 or a 64bit operating system then adjust the settings for PC
Companion and run in compatibility mode and chose Windows 7 or XP.
I hope can be useful.
Best Regards,
I too have had problems with the loud speaker first started when I was at work out in the cold thought this might have something to do with it but it started happening at home as well must be a manufacturing glitch wires touching or Sony speakers
i dont understand why would you have to "squeeze" the phone. 
My M4 speaker has started crackling static at random times. It started a couple of weeks after I got it as a slight buzz after sounds played in a certain game. Now it just sporadically crackles and pops when I'm not even touching the phone and no alerts are going off. I submitted a service ticket weeks ago but never heard back from Sony. Luckily I bought a 3rd-party warranty, so I think I'll see if they'll switch it for an equivalent, non-Sony phone.
Also, last week my home screen froze and when I restarted it the phone factory reset itself. Not impressed with this thing at all haha.
Did a replaced new loudspeaker will sound as a new one? Like brand new?