Jeremy Horwitz of iLounge says he has more info about the “cheap” iPhone:

In summary, the budget iPhone will look a lot like an iPhone 5 from the front, an iPod classic from the side, and an iPod touch 5G on the bottom—only made from plastic rather than glass or metal. It won’t make any bold departures from past Apple designs, but then, it’s supposed to be an inexpensive iPhone, and achieves that goal pretty much as expected.

If true, it’s interesting that Apple isn’t skimping on the screen, but rather the body (and undoubtedly some other internals as well).

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    You would think they would increase the quality…not decrease it..
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    Steve jobs would be pissed.
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