There have been plenty of leaked images of the alleged smartphone with which Apple is planning to expand its iPhone line-up.

Going by several names, including the budget iPhone, iPhone lite, and the plastic iPhone, the device has been touted as being the company's first foray into the mid-level smartphone market. And many pictures and even a video of what is claimed to be the rear shell of the phone have appeared online, generally coming from Chinese factories and sources. Until its actual launch, we expect there to be many more too.

However, the latest leaked photo is not of the phone itself, but what is claimed to be the packaging it will come in. And, if true, reveals the name of the device: iPhone 5C.

Many reports have suggested that the annual iPhone update will not produce an iPhone 6 this year, rather an iPhone 5S. It will be similar to last year's model, but with a few key new features. It's something that Apple tends to do when a major refresh is not necessary. We've had the iPhone 3GS and the iPhone 4S, so why not an iPhone 5S? We may not be sure what the S would stand for in this instance - it has stood for Speed and Siri in the past - but it makes sense.

The iPhone 5C would therefore be the cheaper phone, it has been surmised. Some are even speculating that the C stands for Colour, because it is widely expected that the new budget iPhone will come in different hues.

Whatever the case (pun intended) we'll surely find out in the next few months. Apple is yet to launch anything significant in 2013 so there must be something on the horizon.