Is this the "cheap" iPhone?

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For quite some time now we were hearing all sorf of rumors about the possible launch of cheap or cheaper iPhone, and lately we've been showered with supposed photos of the device, some of them were showing prototype, some production models. This time, the supposedly cheap iPhone in all its glory appears alongside iPhone 5.

What we can see from the photos is that the device by design resembles the iPod touch, and should be available in more colors. Dimensions of the new iPhone will be similar on iPhone 5. From the specification they mentioned H5P Samsung processor, a gigabyte of RAM, and the ability to connect to LTE networks of mobile operators.
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Apple recently reported increasing pressure from the manufacturer of the devices based on Android, especially in the lower price segment that American companies have yet to be covered. As expected, cheap iPhone will be launched in September, along with the new iPhone 5S.

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