Here is a photo of a retail packaging box for the iPhone 5C - the cheaper iPhone Lite

Here is a photo of a retail packaging box for the much rumored iPhone Lite, the cheaper, plastic budget iPhone.
And on the box it's printed "iPhone 5C", so my guess is that the C stands for Color. It will probably be available in all kinds of different colors. A rumor says that it will come in colors that match the new iOS 7 more pastel colors.

My speculation is though, could this maybe be the next iPhone? Maybe the next iPhone will be called iPhone 5C and come in different colors?

A new photo released into the wild this week may show a portion of the retail packaging for Apple's forthcoming low-cost iPhone, which -- if the photo is genuine -- could hit the market under the name "iPhone 5C."

Via: Apple Insider