None of this is confirmed, but iLounge claims to have information on what the alleged lower-cost plastic model might look like. According to the report, the new model will be a combination between the iPhone 5′s front, the iPod touch 5th gen bottom, and an overall shape similar to that of the iPod classic.
The plastic phone is said to sport a much more curvy shape than the latest iPhone models, but it won’t have the full curve all the way across the back, as was seen on the iPhone 3G/3GS. Instead, it’ll curve from the front of the phone into a flat back panel, much like the iPod classic.
The face of the phone should look almost identical to the iPhone 5, except the display will jut out slightly as it does on the iPod touch. iLounge also reports that the budget model will still meet Retina requirements, with a 4-inch 1136×640 display covered in Gorilla Glass.
Volume buttons, as well as the vibrator/sound switch, will revert back to pear-shape, as opposed to circular.
The phone is also rumored to have a butt much like the iPod touch 5th generation, with a headphone port, lightning port, bottom microphone and speaker all in the same places as the iPhone 5. However, the layout is much less cluttered, not unlike the iPod touch 5G.
For a more detailed description, hit up this source link.