Tech

Launch Of Cheaper iPhone Expected This Summer

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An Apple iPhone 5. (Justin Sullivan/Getty Images)

An Apple iPhone 5. (Justin Sullivan/Getty Images)

CUPERTINO (CBS/AP) – The Wall Street Journal reports that Apple is set for a possible summer launch of the next iPhone, rather than a fall launch like the last two models.

Apple is also working on a cheaper iPhone model that could win it some market share in developing countries, the paper said. It cited unnamed people “familiar with the device’s production.”

The report is in line with the expectations of company watchers and Wall Street analysts. The iPhone 5 costs around $600, and while Apple maintains older iPhones in production, even those aren’t cheap enough to compete effectively against low-end smartphones running Google Inc.’s Android software.

Apple doesn’t comment on future products before its launch events.

(Copyright 2013 by CBS San Francisco. All Rights Reserved. This material may not be published, broadcast, rewritten, or redistributed.)

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