Macotakara has released a report with new details on a number of upcoming products, including the rumored low cost iPhone, the iPhone 5S, and the iPad 5 From MacRumors:

Citing information from several different sources, the site suggests that the low cost iPhone may ship in a number of different colors and that it will begin trial production soon. Color choices for the low cost iPhone remain murky, as the site has heard rumors from two different sources. The first source said that the low cost iPhone will come in colors that include navy, gold orange, white, and gray, while a second source named white, pink, green, blue, and yellow orange as the available colors. A common theme, however, is that the low cost iPhone will not include a black option. Rendering of low cost iPhone in multiple colors Apple's rumored low cost iPhone is said to be targeted at emerging markets, carrying a price tag of approximately 350-400 without subsidies. To facilitate a lower price tag, the phone is rumored to have a polycarbonate shell.

 New Colors Rumored for iPhone 5S and Lower-Cost iPhone, Dual LED Flash for iPhone 5S?