Is Apple working on a budget iPhone?

There are rumours flying around the interweb that Apple is indeed working on a budget phone to help it break into emerging markets, Nickolay Lamm and Matteo Gianni have created some gorgeous concept designs that explore what such a phone may look like. If the rumours are true the budget iPhone could launch alongside a redesigned iPhone 6 forecasted for release next year.

[gallery type="rectangular" columns="1" ids="3616,3615,3618,3617,3614,3613,3612,3611"]

(Via: Business Insider)