A phone made of electronic debris? Wow, the lines are already forming. People don't want to buy a product that is perceived as being for "poor people", even if they are poor.
Apple is now very much identified with "retina" and a screened product without it is thought of as interim or simply second rate to some extent.
No one thinks the Nexus is for the poor.
All Apple has to do is put the same panel that the iPod Touch uses instead of the iPhone5 screen
The iPhone isn't some class warfare phone. You see them all over the place. The I got one and you don't or can't afford one card could had been used when only AT&T users could get them but you can buy them at Walmart, StraightTalk has them, Cricket for crying out loud and other small carriers sell them. Walk into a public school and 4th and 5th graders have this phone.
It's not something that's unattainable by the masses.
I think Apple will do it.
They'll use the iPod touch screen, heck call it the Iris screen, whatever, plastic body, probably with colors and still have decent specs. throw a no more than $350 tag on it and I bet you they'll sell like a wildfire. So pretty much a 5th Gen iPod Touch with 16GB instead of 32GB with a cellular radio & GPS
You'll still have those that will buy the high end phone for the extra specs and some who just rather sign a 2yr contract and pay $200 out of pocket vs $350