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Apple's much anticipated budget smartphone is reported to be called 'iPhone 5C', according to a new report.

Technology website Weiphone has posted a picture showing a heap of plastic iPhone cases placed in a large container. Interestingly, the boxes are marked 'iPhone 5C' on their lateral sides as well as on the back side, leading many to believe that this might be the name of the Apple's rumoured budget smartphone.

The model name 'iPhone 5C' seem believable as the Cupertino company has the habit of adding numbers and letters to its iPhone titles to differentiate between previous generation devices. For instance, Apple's older smartphones bear the name iPhone 3G, 3GS,4, 4S and even the new version of iPhone 5 which is expected to make its debut in a few months is also touted to be named 'iPhone 5S'. Global tech blogs believe that the letter 'C' in the name 'iPhone 5C' might be Apple's way to distinguish its cheap model from premium metal-clad siblings. [To view the snapshots of iPhone 5C's plastic case, Click Here]

According to earlier reports, the low-cost iPhone is rumoured to sport a 3.5-inch screen and run on the latest iOS v7.0 powered by the A5 chipset. It is also expected to house a decent 5.0-inch camera on the rear side.

The speculated Apple iPhone 5C will reportedly make its debut in September, along with the next generation premium smartphone sibling - iPhone 5S.

Rumoured specifications of Apple Low-cost 'iPhone 5C' :

Model Apple iPhone 5C
Display 3.5-inch screen
OS iOS 7
Processor A5 chipset
Camera 5.0-megapixel camera
Add-ons 3.5 mm audio port, lightning port