RUMOR: Apple Permanently Replacing iPhone 5 with Cheaper Phone (iPhone 5C)?

KGI securities analyst Mingchi Kuo is one of the top sources for Apple news. He has a stellar track record when it comes to predicting the company’s latest business moves especially information regarding the popular iPhone. The analyst’s latest report sheds more light on one of the most popular rumors hovering around the newest slate of smartphones.

According to Business Insider, the analyst’s newest account claims that the company will replace the iPhone 5 with the supposed cheaper version they may or may not be producing. Possibly titled the iPhone 5C, this budgeted alternative will be sold on shelves along with the iPhone 4S this September. Additionally, he notes that the 5C will sell for $400-500.

Usually, Apple prefers to keep the previous version of one its gadgets on the market after announcing the next generation. They rearrange the prices making it more cost-friendly for consumers. With the iPhone 5 being completely removed from shelves, the tech titan is upending expectations by selling the 4S along side the 5C.

Despite that, certain facts could give this some truth. The most prominent rumor hovering around the intended launch date of September 10 is that Tim Cook will announce two versions of the popular phone. The 5C could be a new venture into an uncharted product line, so it could make sense as to why they would want to possibly avoid having two similarly designed devices on store shelves. Another phone tentatively titled the iPhone 5S is supposed to be the flagship phone for the new year, but Kuo’s report didn’t elaborate on what role it would play this fall.

The company is set announce their new phones September 10.