Based on a recent report by Bloomberg, Apple is working on releasing a smaller and cheaper version of the iPhone 4 which will be sold for a dirt-cheap price of $200 off contract. Even though, the price of the smaller and cheaper iPhone is going to be the same as the iPhoen 4 but without the obligatory 2 years contract, which is what makes it a lot cheaper. The new version is said to be about 1/3rd smaller than the original iPhone, a reporter told to Bloomberg who has seen the prototype. According to the report by Bloomberg, this new version of the iPhone will also be allowing multiple wireless networks which means dual support to use GSM and CDMA networks. Since it’s a lot cheaper and only a little smaller, it is expected that the new version will not have a retina display and will have a smaller screen. If this model of the iPhone 4 is released, it will be released around the middle of this year. It is a little confusing to think of the possibility of Apple possibly planning the iPad 2, the iPhone 5, and a smaller iPhone 4 around the same time. Bloomberg further wrote that “Apple often works on products that don’t get released” leading many to believe that it is likely a product that may not even come out even if it is being considered to be manufactured. As usual, stay tuned for more news and info on the topic by following us on Twitter and/or subscribing to our RSS feed. [Source: Bloomberg] Authors:

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