Earlier, we had brought to you news that Apple was working on a smaller version of the iPhone or a mini iPhone if you would like to call it that way.

Now Apple's COO Tim Cook has hinted that Apple is making a cheaper iPhone by saying that he wants Apple to be for everyone and not just for the rich in an interview with Bernstein analyst Toni Sacconaghi.

He said that they are aiming to conquer the prepaid market especially in markets like China and that pricing is a big factor in the prepaid market.

So now we know that Apple is working on another iPhone model which would be cheaper. But we are still not sure whether it will be a smaller iPhone or just a cheaper model with lower specifications.

via Business Insider

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