New Apple cheap iphone is in the horizon. If you think Apple will sell the iPhone 6 as a cheap phone, you guessed wrong. You might be closer if you thought that the iPhone 5C custom tailored for the mid-tier Chinese market is going to get a 'frontal lobotomy' with less storage memory and be shipped to Europe, you guessed right.

However, that does not include the U.S. for consumers who were anticipating a cheaper iPhone in the domestic market. The only way to get one would be to buy a clone in China. They're so good at imitating patented products, they might just produce an iPhone that is as good as the iPhone 5 or better that is dirt cheap.

According to reports the newer version of the low end phone is on sale in Europe. Of course, as you would assume the phone has less "onboard storage" selling for a lower price.

If you've read the reports about smartphone demand going down due to an oversaturated market in the U.S., Europe and elsewhere, this might a last ditch effort for Apple to test the waters in Europe and if it is bait enough for consumers there.

Prior to going on sale leaked photos emerged of an 8GB model of the iPhone 5C. It's hardly believable and goes against Apple's philosophy of maintaining its products at a premium price.

But you still get all the good stuff found on the 16GB and 32GB memory versions - 4" Retina display, A6 chip, 8MP, and 1080p video.

UK's O2 is selling the new iPhone for $166 less than its sibling, the 16GB model. The iPhone 5c 8GB is 'in stock' on the O2 mobile operator's website and it comes in five colours.The device is shown as 'coming soon' the website and not ready for outright sale.