The latest rumor regarding the iPhone 5's cheaper sidekick is that it will heavily rely on the cloud and sport less internal storage, possibly making it free for new 2-year contracts.
Growing weary of the Apple rumor mill? Don't fret: we're almost done for the year. In this latest installment of the iPhone 5 drama, reports are pointing to a cheaper, cloud-based iPhone that will be revealed next to the iPhone 5 during an Apple press event rumored to take place on September 7 here in the U.S., and September 8 in Japan. This is also the same day the fruity company is expected to reveal its latest iPod Touch with 3G connectivity.
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