Reuters is reporting that JP Morgan analyst Kevin Chang believes that Apple is working to push a new, cheaper iPhone out its doors later this year. Chang cites sources in the “supply channel” and the recent Apple patent application filing.
The new iPhone will be based on the Apple iPod Nano’s design, as we expected – providing a simpler, and less-frill-filled device for the lower-end users still wanting an Apple phone.
Chang stated, “We believe that iPod Nano will be converted into a phone because it’s probably the only way for Apple to launch a lower end phone without severely cannibalizing iPod Nano.”
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