Is Apple having another event soon to finally release the budget iPhone they have been talking about?

Hi, recently Apple released the iPhone 5S and the 5C, is there another event planned soon for the release of the budget iPhone everybody has been talking about.   Am still looking forward to seeing it.

Oh! But the 5C appears to be similar to the iPhone 5, but with a plastic body, and is around the same price as the iPhone 5?   I was expecting something around the $300-$400 mark.   That would be a much more reasonable price for a plastic cheaper version?

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