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The iPhone 5C: Is the 'C' for color or cheap?

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A low-cost plastic iPhone in different colors has been rumored for a while, and now the device may have a name: the iPhone 5C.

A photo hit the Web this weekend allegedly showing a bunch of the store boxes for the plastic iPhone. On the sides of the cases you can see "iPhone 5C."

Some doubted whether the picture and the name would really be what Apple called their plastic iPhone, but Business Insider is reporting that the iPhone 5C may indeed be the moniker for the low-cost smartphone.

VIDEO: YouTube video claims to show rumored, low-cost plastic iPhone

According to an unnamed source in a Business Insider report this week, Apple plans on calling the plastic iPhone the iPhone 5C, with the "C" standing for "color." That would be because the plastic iPhone is expected to be available in a variety of color options. 

But as the report points out, don't be surprised when people mock the name, saying the "C" stands for "cheap."

So when can we expect the iPhone 5C? According to the report, it will launch alongside the iPhone 5S, which may be some time in late September.

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