Rumor: The Budget-Friendly iPhone is an 8GB iPhone 4

iPhone 4 Closeup

Rumors have been circulating for quite a while that Apple is planning on introducing a more cost-friendly iPhone alongside the release of the iPhone 5.

If the latest reports are true (via Reuters) Apple will re-introduce the iPhone 4, in an 8GB form, as the new budget-priced iPhone model. This comes from two persons familiar with the matter, according to the report.

Here’s a portion of the report:

Some analysts said the cheaper 8GB iPhone 4 could help Apple boost sales in emerging markets.

“Apple may want to push into the emerging market segment where customers want to switch to low- to mid-end smartphones from high-end feature phones, which usually cost $150-200,” said Yuanta Securities analyst Bonnie Chang.

If true, the flash drives are being manufactured by a company in Korea, but the company was not named. As per usual, Apple chose not to comment.

As a side note, this report says that the iPhone 5 is due late September, which is contrary to what we heard about the October launch.

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