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Low-Cost, Multi-Colored iPhone 5S Launch Rumored For September

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Launching this fall, Apple is reportedly launching a low-cost and plastic series of iPhones in a rainbow of colors. (Photo by Spencer Platt/Getty Images)

Launching this fall, Apple is reportedly launching a low-cost and plastic series of iPhones in a rainbow of colors. (Photo by Spencer Platt/Getty Images)

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Sacramento (CBS SACRAMENTO) – Launching this fall, Apple is reportedly launching a low-cost and plastic series of iPhones in a rainbow of colors.

According to a CNET report from the Japanese blog Macotakara, Apple contract manufacturer Pegatron is assembling the low-cost iPhone for a Sept. 10 unveiling. Apple is Pegatron’s biggest client, accounting for 27 percent of revenue according to Bloomberg, and that percentage is only expected to climb as the PC business declines.

The rumored iPhone 5S is said to have similar specs to the iPhone 5, but will feature a series of new colors such as green, gold and orange. MacRumors notes that the phone may also come in pink and feature a dual-LED flash.

The lower-cost iPhone is speculated to cost around $350 to $400.

MacRumors suggests that although the phone is expected to have a release next month, it’s possible the rainbow-color phones may not be available until 2014.

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