As Apple Feels the Heat, A Cheaper iPhone is Coming

On the heels of the Microsoft/Nokia deal and with Android making tremendous strides in sales, Apple is planning on releasing a cheaper version of the iPhone this summer, WSJ is reporting.

Sources close to the matter say that the new version would be much smaller – about half the size of the current iPhone 4 – and will offer a lighter array of services similar to the less-expensive variations of Android phones. This would open up the market to lower-income users as well as those who simply do not need a full suite of mobile features.

For the last couple of years, Apple has been trending towards a broader market share with less-expensive variations of nearly all of their products. It has been attributed in part to the poor economy, but one should also consider that the “tech-savvy” market is growing, particularly at the bottom as more people enter the smartphone world.

Either way, this is great news for those who use their phones as, well, phones. Who will carry them and where they will be sold has yet to be announced.