We're talking about this for a long time, will Apple make it or not, still have no answer, but we can be sure low cost iPhone will be sold well like any iPhone did before, Here's a mockup that shows what an 'iPhone mini' would look like if it kept the iPhone 5 design but dropped the screen size back down to 3.5 inches.

A recent report from KGI Securities analyst Ming-Chi Kuo has Apple updating its iPhone lineup in 3Q13.

Take a look below...