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Apple (AAPL): Cheaper iPhone Coming In June, Analyst Says

 February 11, 2013 01:25 PM

(By Balaseshan) Apple Inc. (NASDAQ: AAPL) is expected to release a cheaper variant of iPhone during June at an estimated price range of $250-$350, according to media reports.

A cheaper version will open up "attractive new growth opportunities in China and elsewhere around the world," Topeka Capital analyst Brian White wrote in a note seen by the Forbes.

White anticipates the cheaper iPhone - possibly called "iPhone mini" or "iPhone Air" -  to have a plastic body instead of metal and glass.

[Related -Fusion-IO, Inc. (FIO): Can Fusion-IO Q2 Results Cheer Street?]

Apple is testing iPhone models with various screen sizes, the Business Insider reported quoting White's note.

On the other hand, last month, Apple was rumored to work on a smaller and cheaper version of the iPhone, dubbed as iPhone 5S, which is expected to debut in late 2013 and priced between $99 and $149.

The launch of cheaper version of iPhone, which may be smaller than current models, is part of a push to gain customers in developing nations, Bloomberg reported citing people familiar with the situation. 

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AAPL is trading up 1.06% at $480.00 on Monday. The stock has been trading between $435.00 and $705.07 for the past 52 weeks.

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