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Is Apple Going to Release a Cheaper Version of the iPhone?

The Wall Street Journal seems to think that Apple will be dropping another phone sometime this year, scaling back some of the iPhone’s premium features and, potentially, shrinking its size a little for an alternate, more masses-friendly phone. Steve Jobs was famously against cheaper versions of his products but, well, Tim Cook’s running the company now, and Apple’s wasted no time in releasing new products, like the iPad mini. A smaller iPhone would be the next logical step for people out there who don’t have an iPhone yet. Who surely exist. Somewhere …

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