Perhaps the most rumored and leaked Apple device since the iPhone 5, the cheaper, or budget, iPhone has been leaked everywhere this year. It has been predicted by numerous analysts as the way for Apple to enter into emerging markets, and the leaks continue to stream in, showing us a new plastic shell in many different colors.

Apple is known to drop the price of its iPhones when the next version comes out, but if a new rumor is to be believed, the budget iPhone is really just the iPhone 5 with a new outer shell.

According to CE: The Magazine, at this year’s iPhone event, Apple will announce a new iPhone 5S, and instead of dropping the iPhone 5 to $99, the company will reportedly change the outside of the device to plastic, and call it the budget version of the iPhone.

This budget version is just a refreshed iPhone 5, with the same specs, but with a plastic shell that will come in many different colors. While this doesn’t fall in line with other rumors we’ve been hearing (many believe the budget iPhone and iPhone 5 will coexist), it seems to make sense for Apple to narrow its iPhone offerings and keep a budget phone in the works.

The world’s biggest technology company has another trick up its sleeve. Making a slight shift from its one iPhone per year schedule, Apple will unveil two iPhones this year. According to our source, along with its customary brand new iPhone, Apple will refresh the iPhone 5, adding a colorful touch. The refreshed iPhone 5 and the new iPhone will be announced at a September 18 event, a date previously reported by CE: The Magazine.

The introduction of a plastic iPhone 5 seems smart to me. It would cut down on the confusion of the difference between the iPhone 5 and iPhone 5S in stores, because the iPhone 5 would now be available in new plastic color options. What do you think about this rumor? Could it be true? Sound off in the comments section below and let us know what you think.

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