Rumors over in China claim that not only will Apple be launching an 8Gb budget iPhone 4 alongside the next generation iPhone 5, but also a budget iPad! The budget iPad will actually be the original iPad complete with Apple A4 CPU, only in a newer thinner shell and will only be available in Wi-Fi only!
Gizchina News of the week
There will be 2 models according to the rumors, a 16Gb for $299 and a 32Gb for $399.
Based on their Iphone 5c the word cheap has a different meaning in Applish than in English.