This past weekend, an image claiming to show a bin of boxes for Apple’s upcoming lower-cost, plastic iPhone emerged with “iPhone 5C” as the purported product name. However, earlier today, the image was claimed to be debunked due to some minor inconsistencies and image distortion. The inconstancies do not seem to be prominent enough, though, to completely rule out legitimacy. Now, BusinessInsider is separately reporting that “iPhone 5C” will be the name of the upcoming plastic iPhone.

It’s unclear what the “C” in “5C” stands for, but we can discern from the 5 that the plastic iPhone could be a cheaper version of the IPhone 5, complete with plastic, colors, and perhaps slower processing speeds. Possibilities for “C” could include “Colors” (the plastic iPhone is rumored to be coming in a flurry of colored plastics), or “Cheap” for its lower-cost. For the previous “S” line of iPhones, Apple said that the “S” in iPhone 3GS stands for “Speed,” while the “S” in iPhone 4S” is for “Siri.”

Corroborating today’s claim is an April posting from iLounge, which happened to first report many of the now corroborated design details of the upcoming Apple smartphone:

Screen Shot 2013-07-29 at 8.51.40 AM