Till now we all are hearing lots of rumors regarding cheaper version of iPhone, now for the first time folks over MacRumors has visualized it and released rendered pics of it.
These rendered pics shows that this entry level iPhone will be quite similar to iPhone 5 but little taller and wider may be due to rear plastic panel. This entry level iPhone will be available variety of colors.
Till now we know that this iPhone will be powered by A5 chip, will have 3.5 inch of display screen and will have 5 MP rear camera.
As per pics these iPhone will have Audio Jack, Speakers and mic at bottom and instead of having round volume buttons it will have square buttons.
These are not real rendered images of iPhone but these are created by using information available online, there are chances that final version will have lots of changes in it.