Up to this moment there is no clear indication as to where the news originated.
The rumor became a trend on Twitter, prompting thousands of users of the micro-blogging site to express their disbelief.
The phrase “iPhone 5 $800” became the second most popular non-promoted trending topic on Twitter worldwide, and the third most popular in the US.
The hashtag #800DollarsForAniPhone and “For $800” were also trending on the worldwide social network this morning.
International Business Times has discovered an article on the site gamenguide.com which points to a Chinese auction site that posted a picture of a phone identified as a new iPhone for about $800 to $1,050.
However, the site writes that the picture is most likely a scam and that the new iPhone couldn’t cost that much.
According to latest reports, Japan’s Sharp Corp. will start shipping screens for Apple’s next iPhone this month.