There has been plenty of iPhone 5 rumors floating about. Some have said that it will simply be a refresh of the iPhone 4, while some claim that there will be two variants released – one being the next-generation iPhone while the other will be a budget-friendly version, aimed at developing countries.

As it turns out, there have apparently been photo leaks (as pictured above) of what is claimed to be the prototype device of a cheaper and lighter iPhone 4, aimed at replacing the iPhone 3GS as Apple’s entry level iPhone when the next-generation iPhone is released. As far as the pictures are concerned, the device looks pretty much like an iPhone 4, with the exception of the identification numbers on the back of the device being X’ed out which could indicate that it is a prototype device. Either that or it could just be a photoshop job.

The original poster of the leak admitted that it would be hard to convince people that this is an actual leak due to the device looking remarkably similar to the iPhone 4. A little reverse psychology perhaps? Either way, with our previous post on a what appeared to be a design for the next-generation’s iPhone casing and now this leak, perhaps those rumors might turn out to be true in the end.