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If the long-rumored plastic iPhone is indeed in the pipeline, it looks like it could be 2014 before we see it arrive.

Macotakara is reporting that Apple is indeed planning a cheaper version of the iPhone that will feature a polycarbonate body that would be similar in appearance to the discontinued MacBook. The cheaper iPhone will supposedly be priced around $330 without a subsidy to try to lure in new customers.

As for the specs of the phone, the report goes on to say that it will include a 4.5-inch display, which would be a bit of a surprise as the iPhone 5 only has a 4-inch display. Possibly this is a hint to a larger future iPhone, and that could be part of why it will not launch until next year?

As for the iPhone 5S, Macotakara claims the next iteration of the popular phone will include a dual-LED flash to support the rear camera. An improved flash for the 5S has been one of the most persistent rumors circulating, and a dual-LED setup would definitely satisfy that theory.

Macotakara has a fairly reliable track record when it comes to Apple rumors, with only a few misses here or there. While Apple has repeatedly denied that it is working on a cheaper iPhone, there seems to be an endless stream of rumors circulating to the contrary. At this point it is simply a waiting game to see which, if any, are correct.

Source Macotakara