The Wall Street Journal has confirmed that Apple is working on a cheaper iPhone. While Apple has explored such a device for years, the plan has been progressing and a less expensive version of its flagship device could launch as soon as later this year.

The cheaper phone could resemble the standard iPhone, with a different, less-expensive body, one of the people said. One possibility Apple has considered is lowering the cost of the device by using a different shell made of polycarbonate plastic; in contrast, the iPhone 5 currently has an aluminum housing. Many other parts could remain the same or be recycled from older iPhone models.

Who knows, you could see the iPhone 4, low resolution camera in a plastic multi coloured finish. Strangely, at least it won’t break as easy of dropped unlike glass.