Apple Inc is working on a cheaper version of its popular iPhone that
could be released this year, according to a report in the Wall Street
Journal on Tuesday.
The device could resemble the existing iPhone, but
might use less expensive materials, such as a shell made of
polycarbonate plastic, according to the report, which cited anonymous
sources.
Apple could decide not to move forward with the lower-end iPhone, the report noted.
The
product would represent the first time Apple has diversified its line
of smartphones with significantly different models since launching the
original iPhone in 2007. The company faces pressure from rival
smartphone-makers such as Samsung Electronics Co LTD whose products use
Google Inc's Android operating system.
Apple declined to comment on the report.
Shares
of Apple, which closed Tuesday's regular trading session at $525.31,
are down 25.5 percent from their 52-week high of $705.07 in September.
© Thomson Reuters 2012