The papers are all hot with a new iPhone that is going to be made of a new substance called plastic that nobody has heard of. It’s going to cost half the price and be sold to emerging markets.

If there is such a new handset it will simply be the old 3GS in plastic running iOS 6.1 with an upgraded internal electronics. More likely the iPhone 4 will be redesigned in cheaper plastic and sold at a lower price, and the iPhone 5 will become the 5S with a better camera and processor.

Apple never does anything dramatic.