Is There a $99 iPhone On the Way?

Rumours are circulating that Apple could be working on a less expensive iPhone aimed at the lower end of the market.

According to Bloomberg, the device could retail for as little as $99-149 (£62-93), compared to the iPhone 5, which currently sells for £529 without a contract.

Apple has recently continued to push forward with its annual launch programme of incrementally more powerful devices. This rumoured cheaper iPhone could plug a gap that has largely been filled by Android devices, something which has almost certainly aided the growth of Google's OS.

According to a Wall St Journal report, one way Apple could achieve the lower price point is to switch out the device's aluminium case for a polycarbonate plastic shell, or recycling parts from older iPhone models.