What Rollup hasn't been able to discover so far is any real reporting that looks at the relative costs of a liquidmetal casing compared to a glass or aluminum one. According to Liquidmetal's website, the alloy can be created and worked in a process that more closely resembles that used for plastics than for traditional metal forging and cutting. But there's no indication whether that would mean higher initial capital spending to set up the production line, or higher production costs, or higher unit costs.

And costs, as they impact prices, are a big deal for Apple. Apple's iPhone pricing, for carrier-subsidized phones locked to their cellular network, since the introduction of the iPhone 3G in mid-2008 has been consistent: either two or three models, varied only by amount of storage, priced at $199, $299 and $399. That's been true even when Apple has introduced major improvements, such as a new CPU or the Retina Display screen.

Higher costs for liquidmetal casings might not be a deal breaker, though. Apple's supply chain efficiencies, created by current CEO Tim Cook (who was handpicked by the late Steve Jobs specifically for that job), enable the company to squeeze out costs, and the volume of sales let Apple negotiate lower component prices with its electronics suppliers. All that means there may be some room for Apple to absorb higher costs for a new casing material without hurting its margins or forcing retail prices to rise.

That's how Boy Genius Report's Zach Epstein headlines a more than usually vacuous about the Next iPhone.