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Cheaper, smaller phones by Apple?

Recent reports have surfaced on the web that Apple Inc. is developing new versions of the iPhone that should stop Google’s Android units from taking their market share. How?

They’re cheaper and smaller. They’re also said to allow usage on multiple wireless networks.

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What does this mean? Well it could get back some of the ground that Apple lost to Google because Android is available on more devices and with varying prices. This is of course under the watchful eye of CEO Steve Jobs, who despite being gone indefinitely on medical leave, still has a big say on what gets worked on in Apple R&D.

The prototype is said to be one-third smaller than the iPhone 4 and lacking a “Home” button, according to an unnamed witness.

Apple can afford to sell it at a low price because it will employ the same processor, display and other components similar to the ones in the current model, taking advantage of component price drops.

Lots of big things to look out for in tech this year, and a lot of uncertainty in the minds of people eagerly awaiting the next shocking news. Will Google suffer at the hands of a cheap iPhone? Will Apple’s attempt at a smaller iPhone be successful? More importantly, which will consumers choose?

Source: Bloomberg News