Is Apple’s Low-Cost iPhone Named the iPhone 5C?

Source: bbs.weiphone.comAnother leaked image relating to Apple’s (NASDAQ:AAPL) upcoming budget iPhone, or “iPhone Lite,” has emerged online. Like many other previous leaks, this latest image comes courtesy of the China-based WeiPhone forums via Apple Insider. The image shows a bin full of white, plastic iPhone packaging that is labeled “iPhone 5C.”

Some commentators have speculated that the “C” designator could be Apple’s way of distinguishing its plastic iPhone from the upcoming flagship model that is expected to be named the iPhone 5S. Others have pointed out that the “C” might stand for “color,” since multiple images of plastic iPhone casings in different colors have already been leaked online.

Previous leaks have depicted plastic iPhone casings that are white, red, green, blue, and yellow. Other leaks have purported to reveal the hardware specifications for the low-cost iPhone. PhoneArena obtained images of documents from the Chinese microblogging site Weibo that described an iPhone with a HP5 dual-core processor made by Samsung (SSNLF.PK), 1GB of RAM, FDD 4G connectivity, and a Bluetooth 4.0 capability.

Most analysts are expecting Apple to launch the low-cost plastic iPhone alongside the iPhone 5S sometime this fall. One recent rumor from the Korea-based ETNews claims that Apple is planning on abandoning further production of its current iPhone 5 model in favor of focusing its production resources solely on its two upcoming iPhone models.

A low-cost iPhone option may help Apple to better penetrate emerging markets such as China. Although some analysts predict that a cheaper iPhone could increase Apple’s market share in countries like China, there are also fears that a low-cost device would merely cannibalize the sales of premium iPhones that have a higher profit margin.

Here’s how Apple traded on Monday:

Follow Nathanael on Twitter (@ArnoldEtan_WSCS)

Don’t Miss:Analyst: Apple Faces Smartphone Market Decline.

More from The Cheat Sheet