Apple hints at budget iPhone nano

COO says Jobs' lot intend to attack pre-pay market

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Apple chief operating officer Tim Cook has dropped the biggest hint yet that the company is considering releasing a second tier iPhone that would appeal to the pre-pay market.

The COO met with industry analyst Toni Sacconaghi last week, who claims that to have been told by Cook that he doesn't want Apple goods to be "just for the rich."

According to Sacconaghi, who met with a host of Apple big wigs last week, Cook says the company is planning something "very clever" in order to get its claws in the pay-as-you-go market.

He says that the meeting "appeared to reaffirm the notion that Apple is likely to develop lower priced offerings" after Cook asserted that Apple is "not ceding any market."

Summer launch?

There have been online rumours of an iPhone nano style device for years, but the concensus has always been that Apple doesn't dwell often in the realm of sub-premium products.

Sacconaghi's reports is the latest in a series of rublings that suggest the Cupertino-based company recognises that pretty much everyone wants a smartphone now, but not everyone can afford Apple's pricey contracts.

Just last week both Bloomberg and the Wall Street Journal claimed that Apple was plotting the launch of a sub-$200 (£120) smartphone that would be available contract free.

Once Wednesday's iPad 2 launch is out of the way, say hello to three months of speculation on whether we'll get an iPhone nano launched alongside the iPhone 5. Oh joy.

Source: Forbes