It seems that Apple is planning to launch a plastic body version of the iPhone 5 which will cost almost half the price of the standard Apple iPhone 5. This new, cheap iPhone will be the new smartphone from the company which will be targeted towards the emerging markets like Asia and Brazil and also towards all the budget focused customer who want to own and use the prestigious device.

This so called budget iPhone will cost roughly around $330 in order to appeal to the young and middle class consumers in developing countries like China and India who have very strongly emerging markets. The possible release of a cheap iPhone and the pricing of the same was given out on a Japanese website named Macotakara. There have also been a lot of reports that even claimed that Apple fans and consumers from emerging markets would really support the launch of a cheaper iPhone.

Jeremy Horwitz of iLounge has claimed that reliable sources have told him hpw the new device will look like. He said that the new device will also have the retina display and the new lightning connector. Even though he did not give out details about the trusted sources he seems pretty confident about what he has heard.

Jeremy also said that

“One of our sources claims that Apple’s iPhone prices remain too high for most mainland Chinese customers – the iPhone 5 hardware alone starts at $849 there, versus the iPhone 4 at $500, in a country where the average annual salary is around $3,000 per person.”

Even though this iPhone will be cheap, this move that is being taken by the company is definitely not cheap. Apple has always given importance to quality and the same will be the case for the plastic body iPhone 5. This variant will most probably have the same hardware configuration as that of the standard iPhone 5. Reports suggest that this new iPhone will resemble the iPhone 5 from the front side, but Apple will change the aluminum body of the device with a cheaper plastic casing.