Apple to release low-cost iPhone later in year?

According to Wall Street Journal, Apple is planning on releasing a lower cost iPhone later in the year. The new model would be targeted at emerging markets such as India, and could also help the company gain marketshare in China.

“While Apple has explored such a device for years, the plan has been progressing and a less expensive version of the flagship device could launch as soon as later this year, one of the people said. The cheaper phone could resemble the standard iPhone, with a different, less-expensive body, one of the people said. One possibility Apple has considered is lowering the cost of the device by using a different shell made of polycarbonate plastic. Many other parts could remain the same or be recycled from older iPhone models.”

Wall Street Journal reported a similar story two years ago. Currently, the iPhone 4 and 4S are offered by Apple as lower cost alternatives to the iPhone 5.

What do you think? Will Apple release a low cost iPhone in 2013?