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Is Apple working on a budget iPhone?

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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.

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(Via: Business Insider)