While many consumers are eagerly anticipating the much-publicised launch of the iPhone 5S later this year, there have been rumours circulating for some time that Apple is slated to release a budget version of their smash smartphone hit.  While many of these musings were unsubstantiated until recently, we have seen a growing amount of information being released over the past few months.  So, let us examine what we know as of yet.

The first major breakthrough has been what appears to be a firm confirmation of the name of this new model.  Some initial guesses were that iPhone may follow suit with their iPad and dub the phone the iPhone mini or even the iPhone Lite.  However, recent revelations have supported the fact that the apparent name will be the iPhone 5c.  There is speculation as to what the “c” stands for; many believing it to represent either colour or polycarbonate (which the back of the phone is said to be constructed of).

As far as processing power is concerned, most analysts feel that it will not be offering the A7 chip that will be let loose in the iPhone 5S.  Rather, some speculate that the iPhone 5c will boast the A5 processor that was used in the iPhone 4.  In addition, it is predicted that the 64GB storage capacity may be dropped to 32GB in an effort to reduce production costs.  However, this processor should be capable of running iOS 7, thus allowing it to be fully integrated with all of the latest available apps.

Finally, many believe that the same four-inch screen will be present on this model, thus allowing for the same “feel” as with the newer models.  The main physical difference between the 5S and the 5C may be a choice to run with a polycarbonate cover as opposed to the all-metal protection found on the iPhone 4 and 5.  This model should also be offered in a number of designer colour schemes and although unconfirmed, initial reports suggest that these schemes will include red, blue, white, yellow and light green.

A final fact that is not yet known is whether this budget model will include a camera with the flash built-in.  Most tech analysts believe that the phone will undoubtedly contain both, although the megapixel count is still unknown and this will most likely not be discovered until the ultimate release.

While these rumours are still not completely certain, it does indeed seem that we may expect a concurrent release of this budget model alongside the iPhone 5S.  This will allow Apple to capture a larger market share and help them to continue to dominate the industry into the foreseeable future. All we can now to is wait for the unveiling on the 10th of September…