New, Upgraded and cheaper, Fresh Rumors on the iPhone

If you scoffed at us for reporting the rumors about a Nano-styled iPhone then this is the time to eat your words; according to a JP Morgan report a cheaper version of the iPhone will be launched in the fourth quarter and may look like the iPod Nano. According to Kevin Chang, a JP Morgan analyst based in Taiwan, that an application for the same is with the U.S. Patent and Trademark office. The patent application document” refers to a multifunctional handheld device with a circular touch pad control”, sounding suspiciously similar to the Nano wheel. Obviously Apple is not commenting on the issue.

According to Chang the new phone should ideally be priced at $300 or lower, and probably convert Nano to a phone. “We believe that iPod Nano will be converted into a phone because it’s probably the only way for Apple to launch a lower end phone without severely cannibalizing iPod Nano,” he said noting that the new phone could have “rather limited functionality.” Nokia, Motorola, Samsung Electronics and Sony