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We’ve already heard rumors that the iPhone 3GS will become the new “cheap” iPhone – but now, the folks over at BGR seem to have an “incredibly solid source” to back it up. This new cheap iPhone 3GS is also said to be priced at $350 off-contract – good news, except that it’s the iPhone 3GS and nobody really cares anymore. I guess it would serve as a good introduction to the iOS for consumers thinking about dipping their toes into that side of the pond.

In addition to news about the cheaper iPhone, the iPhone 4S/5 is said to be arriving or “at least announced by the end of summer, late August-ish.” The source also said that there would have been some case leaks for the new iPhone by now but Apple has been doing a good job or preventing leaks so far.

Adding one more rumor to the mill, the source says that Apple will continue manufacturing the iPhone 4 (which will be sold with a price cut). With a low-end 3GS, mid-end 4, and a high-end 4S/5; Apple will have all bases covered with its iPhone line up, which should make it even more accessible to all sorts of consumers.

In the mean time add the necessary amount of salt to these tales before you take them in, but we’re already in mid-summer, so we won’t have to wait too long to find out what Apple has in store for us.

Filed in Apple >Cellphones. Read more about Apple Inc, iOS, iPhone, iPhone 3GS, iPhone 4S and iPhone 5.

ProductiPhone 3GSiPhone 4siPhone 5
Display Diagonal (inches)3.5" (8.9cm)3.5" (8.9cm)4" (10.2cm)
Megapixel Count3.15 Megapixel8 Megapixel8 Megapixel
Battery Capacity (mAh)1432 mAh1440 mAh
Processor/Soc NameA5A6
RAM Options0.25 GB,0.5 GB,1 GB,
Street Price$135 iPhone 4s on Amazon$185 iPhone 5 on Amazon
Link to full specsiPhone 4s Full specs and detailsiPhone 5 Full specs and details
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