Several rumors over the past months say that Apple will introduce a cheap iPhone model. A new report from Japanese site Macotakara (good track record) says that Apple is soon unveiling a $330 polycarbonate iPhone. Apple would use the same material it used on the Macbook. The plastic phone would come soon.
It is possible the new plastic iPhone will have a retro cool design. Think original iPod but thin. At a price of $330 Apple still needs to deliver performance that is at least iPhone 4S. I am still not quite clear what the purpose of the cheap iPhone is as the iPhone 3GS and iPhone 4S are sold as lower cost iPhones. There needs to be an additional appeal. One could be color choices.
The report also says that the iPhone 5S is not coming in 2013. The iPhone 5S with a slightly larger screen (4.5-inches) is supposed to come in 2014 for some reason.
I bet that this is still up in the air. Apple will surely react to whatever Samsung is introducing with the Galaxy S4 on March 14th. If this phone is a super seller Apple will release a new premium iPhone this year.