This appears to be somewhat new. When you tap the circled i option beside a number in your Recents, you have a number of options, including the old "Create New Contact" and "Add to Existing Contact."
There's also a new option called "Add Name".
How long has that been there?
I already tried it. It appears that it just associates the selected number with a name, so you can see a name instead of a number wherever you see the number. Apparently this is for someone who hasn't earned a spot in your contacts yet, but whose number you want to be aware of — for example, if you're screening your calls.
You can see this new option in my screenshot immediately below.
There's also a new option called "Add Name".
How long has that been there?
I already tried it. It appears that it just associates the selected number with a name, so you can see a name instead of a number wherever you see the number. Apparently this is for someone who hasn't earned a spot in your contacts yet, but whose number you want to be aware of — for example, if you're screening your calls.
You can see this new option in my screenshot immediately below.
