iPhone 5C – does Apple's first budgetsmartphone finally have a name?

Usually a photo of boxes isn't cause for much excitement – but this particular snap posted on the Chinese website WeiPhone is a bit special. You see, it depicts a lot of shiny white plastic-looking boxes with an Apple logo on top and - here's the important bit - the letters 'iPhone 5C'. 

Assuming somebody didn't wake up one day and decide to fabricate a load of boxes to prank the internet, this would suggest that the much-rumoured budget iPhone now has a name. C IS FOR 'COLOUR' Given that Apple is unable to conquer emerging markets with its current high-priced portfolio – and the alleged release of the iPhone 5S would do little to change that – a budget iPhone seems logical. 

There have been a number of leaks in the past that all point towards Apple releasing a device made for smaller budgets. One revealed a number of colourful cases in plastic while another included a YouTube video of the device in action . 

Could there be this much smoke without fire – or is it merely an elaborate prank by a factory capable of manufacturing phone cases looking for some e-attention? If the iPhone 5C is real and on the way, what does the C bit stand for? Cheap? Cute? Crass? We're hedging our bets on "colour".