Personally I think the low cost iPhone, assuming it is actually more than a rumor, will be more akin to a re-skin than a new endeavor. Wall Street, Tech writers

Personally I think the low cost iPhone, assuming it is actually more than a rumor, will be more akin to a re-skin than a new endeavor. Wall Street, Tech writers, and those swayed by smartphone marketing don't want to see an "old" iPhone 4S for sale, they want the iPhone Mini! They don't really care what's inside of it so long as it meets their needs and can be perceived as new and cool. The previous model iPhone generally is relegated to "old/uncool" status as soon as the new model comes out. Shrinking the packaging of the 4S and maybe adding a couple token updates like the Lightning connector, dual flash, iPod Touch lanyard, etc at a price to make prepaid and postpaid phone customers happy will likely be enough to shake the "old/uncool" label and make the aforementioned groups gush for Apple.