Love iphone but can't afford? here's the solution. Apple has planned to launch a low-cost iPhone that will cost about $99 and the phone will run on iOS 7.

According to the report, Apple declined to comment on the rumors, but CEO Tim Cook addressed the question of larger screens last month at the All Things D conference.
Cook also said the iPhone doesn't have a larger screen right now for a few reasons. He said that a large screen today comes with a lot of tradeoffs, adding that people do look at the size, but they also look at things like if the photos show the proper color, reflectivity, battery life, brightness, the longevity of the display. The phone will reportedly have a plastic casing and will come in five or six different colors. Besides launching a cheaper iPhone, Apple is also expected to unveil iPhone 5S later this year. iPhone 5S will be an upadte to iPhone 5 which was unveiled in September late this year.