The rumors surrounding the existence of a lower-cost, budget based iPhone simply won't seem to go away and have even accelerated to the point where a number of sources are suggesting that the device is already in production. Although the alleged hardware is yet to be confirmed - or strenuously denied - by any official source, a number of leaked components that are said to be from the device could potentially give an insight into the expected specification.
We've had more rumors than we care to count of late, all claiming that Apple will release a new, budget oriented iPhone later this year, possibly alongside the more expensive iPhone 5S. At this point it's almost a certainty that Apple will indeed bring two new model iPhones to market around September or October time, but the rumor-mill is still working on working out the details.
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