Introducing Apple’s new iPhone 5Cheap…?

A new photo, oh how they send shivers of excitement down your spine, has been released with what many believe will be the retail packaging for Apple's new budget iPhone.

If the photo, released by WeiPhone forums, is genuine, Cupertino's low-cost smartphone will be called the 'iPhone 5C'.

While this isn't the first Apple rumour or photo leak, and damn it won't be the last, WeiPhone forums is well-known in the industry for issuing sneak peeks of Apple devices, suggesting the photo could be real.

In a week where the Cupertino giant battled a ban on iPhone 4 sales, rumours of a budget smartphone have been rife.

But given tech website Techdy also released photos of the alleged device earlier this month, who do you believe?

Answer is, nobody at present.

Which fits in nicely with the next issue, if correct, what does the "C" stand for? Presumably "C" for "Cheap", yeah?

No, of course not. Apple lovers are in fact speculating that "C" stands for "Colour", or "Color" as the company will no doubt refer to it as.

AppleInsider released an image showing the variety of coloured plastic cases, as the world tries to piece together the missing pieces in the budget iPhone puzzle.

A puzzle nobody seems any closer to solving...

Are you convinced by the latest round of Apple budget iPhone pics? Tell us your thoughts below