A cheaper iPhone variant has been rumored for months, but there has been little in terms of hard evidence to prove or disprove its existence. Whitmore believes the time is right for Apple to aggressively enter the mid range smartphone market, due to weak competition.
He believes that the cheaper version, the so-called iPhone 4S, will cost about $350 and that it will target prepaid customers, rather than contract users. Mind you, some analysts don’t agree with Whitmore’s predictions and they don’t expect Apple to introduce a second, cheaper version of the iPhone.
More here.