Apple is reportedly working on a cheaper, lower-end version of the iPhone to help it compete with rival smartphone manufacturers who have eroded its share of the worldwide market.
The Wall Street Journal reported that Apple has been exploring the idea since 2009, but is now close to implementing its plans after seeing its share of global smartphone shipments slide to just 14.6 percent in the third quarter of 2012.
The iPhone 5 was unveiled in September and was released late last year. It remains popular in the US, but it has struggled in China and emerging markets.
Prior to the launch of the iPhone 4 in mid-2010, Apple apparently developed a design for cheaper phones that looked similar to the iPhone at the time, but the idea was shelved as the Cupertino-based company was concerned that multiple smartphones would complicate the manufacturing process. Another concern is that it could affect Apple’s high profit margins.
Rival manufacturers like Samsung offer cheaper alternatives alongside their flagship smartphones, a strategy that Apple could be prepared to replicate. It launched a smaller 7.9 inch version of its iPad tablet, the iPad Mini, in order to compete with cheaper seven-inch alternatives from the likes of Amazon and Google.
How much do you know about the iPhone? Take our quiz!
Thoma Bravo agrees to acquire Darktrace for $5.32 billion in cash, delivering some welcome news…
Customer adoption of AI services embedded in cloud services continues to deliver results for Microsoft,…
TikTok's 'secret source' algorithm is so core to ByteDance, it would rather shut down US…
After relocating from California to Texas in 2020, Oracle's Larry Ellison now reveals plan to…
Share price hit after Meta admits heavy AI spending plans, after posting strong first quarter…
For third time Google delays phase-out of third-party Chrome cookies after pushback from industry and…