If rumour mill can be taken into account Apple is planning to launch a budget version of its flagship mobile phone, the Apple iPhone that is expected to come with a price tag of less than a third of the price of the present model.

The Apple iPhone nano is a smaller version of the current iphone that could hit the stores as early as this summer. The price of the nano is expected to be less than GBP 150. This phone could also be purchased free of charge if bought as part of a contract.

The new version of the Apple iphone which would be 4.5 inches in length, 2.31 inches width and 0.37 inches in thickness. This means the nano will be sized about two third of the iphone 4.

Nano would come designed to compete with the mass market products spawned by the mobile giants such as Motorola, Nokia and Samsung.

Such as move is also expected to put Apple head-to-head with the internet search giant Google that has lent its name as well as its operating system (Android) to a good number of mobile handsets on the market.

According to analysts the launch of a cheap mobile phone would be nothing less than an aggressive move from Apple that has always traded on its reputation for developing expensive and up market technology.

It is also worth mentioning that the current Apple iPhone 4 comes at a starting price of GBP 510 in the United Kingdom. This can however rise to GBP 612 according to the online store of Apple in the United Kingdom.

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