Recent rumors have all indicated that Apple will soon announce a budget iPhone which will have a body made out of a plastic material helping the company reduce the cost of the device. This new iPhone which might actually be the iPhone 5S was rumored to have a configuration similar to the current iPhone 5.

This iPhone 5S could really be a treat for all the mid-segment consumers who have always been waiting for an iPhone that they could afford. The budget iPhone will not only be cheap but at the same time will have almost all the features present in the iPhone 5. The budget iPhone was rumored to have the same screen size as the iPhone 5 and recent reports claim that it will also have retina display just like the iPhone 5. So even though there will be a difference in the external body, there will be a lot of similarities on the inside.

Apple has always been careful about the quality of its products and at the same time has been one of the big players in the market. The company has a significant market share to rival smartphone companies in the high end market segment and is now planning to target the mid-segment and probably even the low-segment consumers with its budget iPhone.

The most interesting point about the budget iPhone is that Apple has been planning this smartphone since the year 2011. So if this is true, it means that the budget iPhone could be announced very soon alongside the next generation iPhone.

Another rumor claimed that the budget iPhone will also have a fingerprint sensor and NFC. Hence new iPhone users might actually be able to lock their smartphones with their fingerprint as the password. Apple could provide a totally new level of security on smartphones which would make the owner of the smartphone as the only person who can get pass the security lock.

We are really interested to find out whether the budget iPhone will have a similar look and feel as compared to the current iPhone 5. This new smartphone is said to have a fiber glass body and will be available in a variety of colors.