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
- China building South China Sea island big enough for airstrip - report
- Obama to be chief guest at Republic Day celebrations
- Pakistani family sentenced to death over "honour killing" outside court
- China's rate-cut likely to hurt banks, curb new loans to small borrowers
- Long "to do" list for Modi as clock ticks on reform
Prime Minister Narendra Modi has a long list of pro-growth measures to implement over the next four months, but time may have already run out to breathe enough life into the economy to meet the tough 2014/15 fiscal deficit target without cuts. Article