Here's Proof A Cheaper iPhone May Be On Its Way

Tom's HardwareApple was approved for this patent late last month.Apple needs to sell more iPhones. Despite posting a record-breaking quarter, investors still want more.

Rumor has it, a budget iPhone is on its way.

Tom's Hardware has uncovered a patent for a plastic iPhone with no home button.

The patent is specifically for,

A light isolating protective cover for small form factor electronic device...that has a rear facing camera assembly and a front facing display assembly that includes at least a protective cover layer...

The patent was filed in February 2012 but was awarded just last month.

"The filing itself lists Apple engineers Chong Yip Chow, Hongqin Zhang, Shizhe Shen and Michael DiVincent as principal inventors," Tom's Hardware reports.

Apple has denied releasing a cheaper iPhone so this is just a rumor now but it falls right in line with other news we've been hearing.

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