iPhone Nano May Be in the Works10 Jul, 2007 By: Billy Gil
The excitement over Apple's iPhone is growing further after an analyst said Apple filed a patent suggesting it will release a cheaper model in the fourth quarter, according to Reuters.
J.P. Morgan analyst Kevin Chang said a patent Apple filed July 5 for a multifunctional device with a scroll wheel — similar to Apple's iPod nano — may mean an iPhone that costs less than $300 is in the works, Reuters reported.
“We believe that iPod Nano will be converted into a phone because it's probably the only way for Apple to launch a lower end phone without severely cannibalizing iPod Nano,” he said.
The all-in-one cell phone, media player and wireless Internet gadget, released June 29, retails for $499 to $599. Analysts have placed first-weekend sales as high as 700,000 units sold, according to Reuters.