Apple reportedly is working on a cheaper version of its popular iPhone that could be released sometime in 2013.
The news was first reported in The Wall Street Journal and according to the report, the company is currently trying to decided if they should switch from an aluminum body to lower the cost polycarbonate plastic.
The move is being considered most likely because it would be cheaper than reducing the price of their current iPhone models that are being sold. Most experts feel it is also a tactic to help Apple compete with its Android competitors also.
"The most obvious factor that threatens the iPhone is the bevy of Android models available. Some estimates put Samsung's unit smartphone sales far ahead of Apple's, at 62 million versus 45 million," according to a report by CBS Money Watch. "And although Samsung seems to be the leader in Android phone sales, it's hardly the only vendor. As a result, three out of every four smartphones sold in the third quarter of 2012 was based on Android.
China is another reason Apple could be working on a cheaper iPhone, mainly because carriers offer Android phones for around the same price as Apple phones. There is also a "broader range" of Android devices, most of which cost less than iPhones. If Apple doesn't address this issue they'll just continue to fall behind in one of the biggest smartphone markets world-wide.
The iPhone 5 was released in China last month, and 2 million phones were sold in three days. This may seem like a large number, but China has over 1.3 billion people, so all-in-all the company has to be a little disappointed.
The iPhone 5, which launched this past September, is currently sold for $199 at most retail cellular providers. The iPhone 4S however is sold for $99 and the iPhone 4 is free with a two-year contract according to USA Today.
Apple sold approximately 27 million phones in the fourth quarter according to a report by Apple earlier this week. Overall around 45 million Apple smartphones have been sold in the past year, behind Samsung's reported total of 62 million phones according to CBS.
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