That looks exactly like the "Basic Bear" phone they are promoting and selling on their site: http://techdy.com/shop/basic-bear/

- minus the apple logo

It's just an attention-grabbing-headline, please downvote this.

Aye, this is just an advert disguised as a Gizmodo-style world exclusive 'leak'.

At the end of the article they pitch an Android phone they made that's "based on the design of the next iPhone"

So that's about how much you can trust the legitimacy of these pictures

Their design is based on information that has already been leaked elsewhere. I think what's interesting about this submission is the quick turnaround.

There's something that feels really dodgy about this site. Apple haven't announced anything and the supposed budget iPhone they're showing looks an awful lot like their Android based "Basic Bear" phone...

Apple I doubt will be entering into the "budget" market any time soon. They can just sell their previous models at a discounted price instead of potentially tainting their brand with "basic" versions.

Apple are all about the build quality and aesthetics and given the amount of cash they apparently have in the bank, I would say their current strategy of selling expensive phones and computers is working. Nokia on the other end is going for the budget market because the likes of Apple and higher end Android devices ate into the space Nokia was once the king of and the budget space is all they really can compete it, Apple have no reason to currently compete.

Looking at their products (http://techdy.com/bear/), this just seems like a lawsuit waiting to happen. Its pretty much identical to the design of the HTC One and iPhone.

Looking solely at the products though, it seems pretty cheap (cheaper than Nexus 4 even for the specs) but probably has poor build quality. Not sure if they are being truthful about the having the Snapdragon 600 either.