BUSINESS
07/06/2009 05:12 am ET Updated May 25, 2011

New iPhone: Apple Plans Cheaper Version

Apple plans to introduce a cheaper version of its popular iPhone as soon as Monday, in a move that could dramatically increase the company's share of the market for web-surfing devices, people familiar with the initiative said on Thursday.

Analysts said that the company wanted to show off either a $149 phone or a $99 phone, down from the current low end of $199 and still subsidised in exchange for an AT&T communications service contract.

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