According to the Bloomberg report, Apple is currently working to produce a smaller iPhone 4 version that will be cheaper than the current model and expected to be priced around $200 without any contract.
The new cheaper version of iPhone 4 will be about much smaller than the current version about 1/3rd in size, according to the prototype which has seen by the reporter, and allows multiple wireless networks in it which means it will support dual cellular network CDMA and GSM.
It will use a processor, display and other smaller components similar to the iPhone 4 but it may not be having retina display support, because of it’s in small size. It’s expected to be launched somewhere in mid of this year.
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