APPLE TO LAUNCH CHEAPER VERSION OF IPHONE

Apple could launch a cheaper version of the iPhone later this year, according to reports.

The cheaper handset could be similar to the current model but with a cheaper, less expensive body, the Wall Street Journal reports .
The Journal says that Apple is considering an iPhone with a polycarbonate plastic case, which would be cheaper to make than the glass iPhone 4 and 4S or the aluminium iPhone 5.
The paper says Apple might still decide not to launch the device but that a cheaper iPhone is needed to help the company compete with cheap smartphones running Google's Android operating system.

Last week, research firm Strategy Analytics suggested that the growth in Android sales, and particularly Samsung devices, could force Apple to release a smaller "iPhone mini" .

Apple's strategy so far has been to concentrate on profitability rather than market share. ThoughApple has released just one new smartphone model each year since the first iPhone in 2007, it does tend to keep older versions of its phone on the market.
The iPhone 4 and 4S are both still available, for example, giving would-be owners a cheaper way to get an iPhone.