Here is how future low cost iPhone might look like

New renderings of the low cost iPhone based on recently leaked schematics have been posted online by AppleInsider.com.

On the left side, the volume controls are pill shaped, like the iPod touch, rather than circular, like the iPhone 5. The back corners of the device are also curved, bearing a resemblance to Apple's iPod classic. Aside from those tweaks, the anticipated handset is unmistakably an iPhone, featuring the standard home button and a 4-inch display. The leaked design is slightly thicker than an iPhone 5, and is expected to have a plastic back panel to keep costs down.

Here are the renderings: