New iPhone: Small Price Will Mean Big Business

For months we’ve heard rumblings about the forthcoming launch of the so-called “cheap iPhone” – an affordable entry-level iPhone from Apple supposedly coming to market this year.According to comments Tuesday from Piper Jaffray analyst Gene Munster, that launch could come as soon as September.

Munster, Business Insider reports, believes that Apple will quickly secure at least 10% or better of the low-end smartphone market.

A low-end iPhone is generally thought of as an iPhone available for $300, well below the average selling price of $620.

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