The iPhone. For many it's the hottest bit of tech you can own, a fashion statement and powerful travel companion all in one - but for others it's an overly expensive solution to a problem which is solved equally well by cheaper Android and Windows Phone devices.
But perhaps not for much longer. Alongside the talk of an inevitable iPhone 5S and iPhone 6, we've noticed a rash of slightly more eyebrow-raising news suggesting the cheap iPhone 5C could be on its way.
We've perused all the leaks, claims, suggestions and "upstream supply chain" comments to bring you the latest vibe on the iPhone 5C and whether we will see it or not.
It's a (release) date!
Apple has stayed true to form and hasn't given any details away regarding its next smartphone(s), but we're expecting the next iPhone instalment to arrive in September, and thus this seems the mostly likely time for the budget iPhone to stride onto the scene.
Case manufacturer Tactus claims the iPhone 5C will arrive in October - which would fit in nicely with the September/October launch event Apple is thought to have planned.
Update: Word on the street now is that the iPhone 5C will rock up on September 18 (that's Wednesday) and will arrive in a range of colours. How lovely.
The report goes on to claim that the 5C could hit stores on September 27, in the US at least, setting punters back $349 (about £227/AU$376) for the 16GB model.
If the idea of a low-cost iPhone has taken your fancy then you may find it difficult to get hold of one when it initially goes on sale. According to a DigiTimes source the iPhone 5C will have a limited release at first, with the focus being put on emerging markets.
How low can you go?
Price is the single biggest factor when it comes to the budget iPhone 5C, but it's one part of the puzzle which has not seen much in the way of leaks.
A cheap iPhone needs to be able to challenge the cost effective Android and Windows Phone handsets which are currently populating the bottom end of the market, so really we'd like to see it rock up somewhere in the region of £200/$310/AU$300).
The only things we've seen regarding the price of the iPhone 5C is a rumour suggesting Apple is targeting the $330 (around £210/AU$310) price point - which would be nice.
There is some confusion over the screen size on the iPhone 5C, with some reports suggesting it will pack a 4.5-inch display, while others point towards a smaller 4-inch offering - similar to the one found on the fifth generation iPods and iPhone 5.
If Apple are really looking at a more affordable iPhone we'd be surprised if it turns up sporting a screen which is bigger than the iPhone 5, and we reckon 4 inches or below is far more likely.
Don't go expecting the budget iPhone to pack the beautiful retina display of its brothers though, with the low-cost handset far more likely to land a lower resolution - possibly 1,136 x 640.
Other reports suggest Apple may return to its origins and supply the cheaper iPhone with a 3.5-inch display.
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We've become accustomed to the iPhone's premium design, with high quality materials oozing style and class, but things could well get a lot more plastic on the iPhone 5C.
Update: Our first proper glimpse of the cheap iPhone might be the offering below, which shows a while handset with a lovely plastic finish and a design which is reminiscent of the iPhone 3GS. According to this report you can expect to see the budget iPhone rock up in black, white, blue, red or yellow variants.
And if you're unsure about that iPhone 5C name, then explain these boxes - of course they could be fakes but it adds another piece to the 5C puzzle.
Update: Rarely do we see leaked images which aren't blurred, but in the case of the iPhone 5C a couple of rather crisp photos have popped up online from SonnyDickson, claiming to show the budget iPhone.
Stop, colour time
What's this, an iPhone which doesn't just come in black and white? Well yes, that may become reality with a cheaper iPhone on the cards.
This was followed by sources who spoke to Macotakara, claiming the cheap iPhone will be available in five colours - which could see it sport the same blue, red and yellow which accompany the black and white on the current range of iPods.
Update: However if you would rather believe other rumours, black won't feature on the iPhone 5C after all, being replaced by green instead.
More, more, more
In terms of other specs details have been hard to come by for the budget iPhone, although we've now seen a report which suggests the handset will sport an A5 processor and 5MP rear camera.
Update: There might be some good news in the camera department on the iPhone 5C however, with recent reports suggesting the cut-price iDevice may in fact sport a 8MP rear snapper instead of the 5MP option we'd originally seen touted.