The site says the recently leaked iPhone 5C packaging may or may not be real; however, they "feel certain the name is real".
After the photos leaked, we heard from a source that the name is going to be "iPhone 5C". Our source doesn't work at Apple, but is connected to someone inside the company who confirmed the name. So, this is second hand, but we feel confident after talking to our source that it's accurate. Our source expects the iPhone 5C to launch along with the iPhone 5S, and says the leaks of colorful plastic iPhones are spot-on for what it will look like.
iLounge reported the 'iPhone 5C' moniker months ago and device itself was confirmed by a Pegatron employee today.
Apparently, the C stands for color; however, if the name is correct, critics will likely refer to it as standing for cheap.