AAPL: Apple (AAPL) is working on a cheaper iPhone...

5:13 PM, Jan 08. Apple (AAPL) is working on a cheaper iPhone that could launch later this year, the WSJ reports. One source suggests the device could resemble the regular iPhone, but "with a different, less-expensive body." The cheapest iPhone currently sold (the 8GB iPhone 4) goes for $450 unlocked, putting it out of the reach of many emerging markets buyers, as well as some prepaid buyers in developed markets. The fact low-end Android phones sell for much less (sometimes less than $150 unlocked) has done wonders for Android's international share. Read comments

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