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Apple iPhone 5 in a cheaper, plastic body to be launched in June-July

Jefferies & Company analyst Peter Misek said that production of that cheaper iPhone is likely to start in June.

New iPhone to be launched in Aug-Sept 2013?

According to This Week In Apple Rumors, Barclays analyst Kirk Yang predicted that the next iPhone would land in August or September, along with a cheaper iPhone aimed at emerging markets.

Cheaper iPhone 5 coming soon, may cost $330

According to a Japanese website, Macotakara, the budget version of Apple's latest iPhone will cost roughly 330 dollars.