Apple iPhone Lite will be a modified Apple iPhone 5; new phones to be introduced September 18th?

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A published report on Friday says that the next iteration of the Apple iPhone, and a refreshed version of the current Apple iPhone 5, will both be introduced by Apple during a special event on September 18th. The version of the phone thought to be the Apple iPhone Lite, will actually be an iPhone 5 with cheaper, colorful shells, and a lower build cost thanks to the use of plastic in a few key areas. The price of the phone will be $99 on contract.

The new lineup for Apple will start with the Apple iPhone 4S replacing the Apple iPhone 4 as the lowest cost option. The refreshed iPhone 5 is next followed by the new Apple iPhone 5S or iPhone 6. The plan is for Apple to take on low-priced, attractive handsets made by its rivals. By using what is basically an iPhone 5 for this model, Apple will be keeping the specs high enough to compete, and using plastic in key areas will allow it to keep the unsubsidized price lower. This report dovetails perfectly with comments made by analyst Peter Misek of Jefferies, who says that the new low cost Apple iPhone will be priced at $300 to $400 and thus will be more like a mid-range model.

According to the report, while the new phones will be introduced on September 18th, they will actually launch on September 27th.

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