The less expensive iPhone has been rumored for a long time -- a way for Apple to cater to emerging markets and entry-level, off-contract customers -- but so far it's remained little more than a myth. Today, case manufacturer Tactus claims to have an image of the rear casing for just that device.
Aligning with previous rumors, the photo in question shows a white, plastic rear casing that looks like a fusion between an iPod classic and an iPhone 3G/iPhone 3GS rear housing. Tactus is also claiming that the low cost iPhone will come in 5 colors - black, white, red, yellow, and blue. As far as the display is concerned, Tactus is saying it will stick with a 3.5" retina display as opposed to rumors of a 4" display similar to the iPhone 5. Likewise, a 5mp camera and an A5 processor are included in their rumors.
While iMore hasn't heard anything along those lines, all of that makes sense to keep costs down and serve just exactly the type of market a lower-cost iPhone is meant to serve.
As far as whether or not this photo is legitimate, it's impossible to say at this point. Supply-chain sources leak, and it's possible case manufacturers have contacts at device manufacturers, or it's possible they just had the resources to mock up something based on what they heard, or based on extant rumors.
So file this under noise for now, but interesting noise. And in the meantime, would you buy a lower cost iPhone if it looked something like this?