The talk of a low-cost iPhone ranks alongside products such as the iWatch and Apple's connected TV effort in years-old rumors are yet to materialize into an actual product. Following the iPad mini, which, after a lot of similar speculation, is now very much a real device, claims of a similar, cheaper entry to the smartphone market seems to have claimed some legitimacy with time. Today, we're hearing that the device, which many have suggested will launch alongside the next flagship iPhone, will utilize the same 4-inch display of the iPhone 5, while also featuring plastic exterior casing, falling perfectly in line with previous reports.