According to a recent report by Bloomberg, Apple is apparently working on new versions of the iPhone which will be smaller and cheaper than the iPhone. It already has a few working prototypes in place, according to sources which “have been briefed on the plans”.
Apple has the highest profit margins in the industry, but its growth in the mobile sector has considerably slowed down compared to what it once was, and also compared to Android’s growth. With a cheaper iPhone, its profit margins may dip a bit, but it will make a higher overall profit due to higher volumes.
The iPhone “Mini” will be about 33% smaller than the iPhone and won’t have a Home button. It will be priced at $200 without a contract. Apple is also working on launching dual mode iPhones, which will support both GSM and CDMA. It will also come with the Universal SIM technology which will allow users to switch network providers without changing SIM cards.
It may either launch mid-year or may be scrapped altogether though, so don’t get your hopes high. Such an iPhone would do very well though, especially in countries like India, where the iPhone is priced exorbitantly high. As of now, those who cannot afford an iPhone just go ahead and buy a budget Android device.