New Cheap iPhone On Horizon For Apple (AAPL)

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Due to the increase in popularity over the Android mobile phones, Apple is reportedly creating a new line of iPhones that will be cheaper than the Google phones.

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The new model iPhone would be smaller than the iPhones today.  But with the smaller size comes the lower price, which Apple expects to influence the decision of many people to buy their phone.  It has been described as possibly being 1/3 smaller than the current model.

Apple is also trying something new and plans on not requiring customers to sign a two or three year contract when they purchase the iPhone.  Instead, all they will have to pay is $200 for the phone.

This could also be another huge boost for Apple stock (AAPL), which has already been predicted to be worth more than $450 a share in the upcoming year.

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