New information about Apple's lower-priced iPhone have surfaced along with pictures of what the budget smartphone from Apple might look like.

It's no secret that Apple will launch a lower-priced iPhone this year in a bid to better compete with cheaper Android smartphones. Apple wants to make it clear that this lower-priced iPhone will still carry the quality build users expect from Apple's iPhone.

According to iLounge, new details about the lower-priced iPhone's design and what the device might look like have surfaced. The smartphone is expected to be substantially made out of plastic to keep its price down. The design is described as a cross between an iPhone 5, fifth-generation iPod touch, and the iPod classic.

iLounge describes the device as looking almost identical to the iPhone 5. It's supposedly a half-millimeter taller and a half-millimeter wider than the iPhone 5 and also 1 millimeter thicker. The site claims the device will continue to use Gorilla Glass for its 4-inch, 1136 x 640 pixel Retina Display screen. It also reports that the most significant design change Apple has made to the lower-priced iPhone is in the curves found on the device. iLounge describes the smartphone looking like an iPhone 5 from the front, an iPod classic from the sides, and an iPod touch from the bottom.

It sounds like Apple has figured out a way to offer all of the features customers have fallen in love with the iPhone 5 and brought most of them over (minus aluminum casing) to the lower-priced iPhone. Apple is hoping that offering customers a lower-priced iPhone with many of the features found on its flagship iPhone 5 will help it cover the low-end smartphone market. However, whatever you do, please don't call it the cheap iPhone!