Wall Street Journal: Early reports indicate that Apple is working on a low-cost version of the iPhone which could launch as early as this year.
While Apple has explored such a device for years, the plan has been progressing and a less expensive version of its flagship device could launch as soon as later this year, one of the people said.
The cheaper phone could resemble the standard iPhone, with a different, less-expensive body, one of the people said. One possibility Apple has considered is lowering the cost of the device by using a different shell made of polycarbonate plastic; in contrast, the iPhone 5 currently has an aluminum housing. Many other parts could remain the same or be recycled from older iPhone models.