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new set of budget iPhone renders, based on a string of leaked design drawings, have been revealed by the Apple fanatics at MacRumors.

Depicting the low-cost device in a series of bright colours, the new renders show a phone that packs in much of the same design language as the iPhone 5.

However, subtle changes to the size and volume controls suggest there could be some minor tweaks to what is already a winning formula.

Apple’s budget iPhone has been a staple part of the gossip menu for almost a year.

Cupertino has failed to deny it’s working on such a handset and these latest pictures will only serve to cause more excitement.

It’s widely expected that the budget iPhone, perhaps called the iPhone 5S, will be revealed at a special autumn event. Its release is expected to coincide with the rollout of the recently rejigged iOS 7.