Reuters Says Cheap-O 8 GB iPhone 4 Arriving "Within Weeks"S

The mythological "cheap iPhone" is coming, according to equally mythological "people with knowledge of the matter," reports Reuters. And it's coming soon, they say: a less expensive 8 GB version within weeks. Run, rumor, run!

Does an 8 GB version make sense? Sure—Apple already sells a budget 8 GB 3GS for a mere $50, so when the new hotness arrives, they'll probably want to phase out that old bag and replace it with a new econo-phone. And an 8 GB iPhone 4 would sit nicely beside a shiny, expensive new iPhone 5. But we'll wait and see! Only those "with knowledge of the matter" know for sure. [Reuters via 9to5Mac]