Apple working on cheaper iPhone - report
SAN FRANCISCO (Reuters) - Apple Inc (AAPL.O) is working on a cheaper version of its popular iPhone that could be released this year, according to a report in the Wall Street Journal on Tuesday.
The device could resemble the existing iPhone, but might use less expensive materials, such as a shell made of polycarbonate plastic, according to the report, which cited anonymous sources.
Apple could decide not to move forward with the lower-end iPhone, the report noted.
The product would represent the first time Apple has diversified its line of smartphones with significantly different models since launching the original iPhone in 2007. The company faces pressure from rival smartphone-makers such as Samsung Electronics Co LTD (005930.KS) whose products use Google Inc's (GOOG.O) Android operating system.
Apple declined to comment on the report.
Shares of Apple, which closed Tuesday's regular trading session at $525.31, are down 25.5 percent from their 52-week high of $705.07 in September. (Reporting By Alexei Oreskovic; Editing by David Gregorio)
- Tweet this
- Share this
- Digg this
- In his native Alabama, Apple CEO's announcement he is gay prompts discomfort for some
- Air strikes hit Kobani as Kurdish peshmerga prepare to enter
- Islamic State fighters kill 220 Iraqis from tribe that opposed them
- SEBI piles pressure on Sahara to sell overseas hotels
- China expresses concern about Indian plan to build border posts
Shares Hit Record
The BSE Sensex and Nifty surged to record highs for a second consecutive session on Friday after Bank of Japan's surprise expansion of its massive stimulus programme raised hopes for additional foreign inflows, boosting blue-chips such as Larsen & Toubro. Full Article
China's shadow banking sector growing rapidly, third largest in world - FSB. Full Article