Apple is launching a lower-priced iPhone for $350 later this year, writes Jonathan Geller of Boy Genius Report.
The really interesting thing is that the new phone might simply be the old 3GS, readily available with prepaid options.
The lower-priced phone would be coming out in addition to the long-rumoured iPhone 5, and Apple would continue to sell the iPhone 4.
This would mean Apple has a smartphone available for those looking for either a low, mid, or high range device.
Cupertino seems poised to own the smartphone market.
Don’t Miss: All The iPad 3 rumours We Know About So Far