Close on the heels of its last week-published report which claimed that a low-cost iPhone is currently being mulled by Apple, iLounge has now divulged some further details about the much-rumored handset.

According to the new follow-up report released by iLounge, the rumored `budget' iPhone from Apple will chiefly be made up of plastic; with its design to be largely inspired by that of Apple's popular devices, including the iPhone 5, new iPod touch, and the iPod Classic.

The iLounge report particularly claims that the front portion of Apple's low-cost iPhone will be fairly akin in appearance to the iPhone 5. However, some bigger differences coming aboard the low-cost iPhone will be visible on the sides; with Apple probably doing away with the `round' volume buttons, and replacing them with the `rocker style' buttons of the iPhone 3G and 3GS.

So far as design cues from the iPod Classic are concerned, the iLounge report claims that the curves of the back-side edges of the low-cost iPhone will be quite like those of the iPod Classic.

Furthermore, as per the iLounge report, the rear portion and the sides of the low-cost iPhone will be flat, and will have distinct curves; unlike the iPhone 3G and 3GS which are curved all the way back. The edges of the low-cost handset will have identical features as the iPhone 5, but their design cues will be taken from the new iPod touch versions.