Apple's cheaper iPhone 5C announcement, specs, and release date of Apple's rumored cheaper iPhone

Apple announces the 5C on September 10 as we expect, then it should go on sale the next week, most likely by September 20. That 10-day cycle could follow Apple's usual pattern.

The tech blogosphere has collectively dubbed the "iPhone 5C" (the "C" denoting the multicolored backs, or simply just "cheaper"); the official product name is anyone's guess. 

It will be less expensive, but that's not exactly a cogent analysis of the 5C chatter.

It will cost between $349 and $399 unlocked (or, at least, off-contract). Though that's significantly more than what the 16GB iPhone 5 costs with a contract ($199), that's a big savings from the $450 that Apple currently charges for an unlocked 8GB iPhone 4. Carrier subsidies would change that dynamic, but the 5C may be sold only without a contract.

While the current iPhone is only available in black or white (with gold/champagne likely on deck for the 5S), it appears the basic iPhone will follow the iPod "rainbow" approach, with availability in a wider range of colors.

In addition to white and black, it looks like we'll see it in several other colors.

Until we know more, that's all we can say. But if the September 10 event does happen. A lower-cost iPhone 5C in everyone's pocket.