Either Apple can't keep a secret any more, or it's changed its marketing policy in a marked way. Behold, the "budget" iPhone 5C. Maybe.
I've got to say "maybe", because there's a small part of my brain that knows that there's an enormous number of Chinese iPhone knockoffs, and this is a video posted to a Chinese video service. It could well be a fake, in other words, and it's not as though it shows off a lot we haven't seen before.