Apple is likely to bring in $500 iPhones

Apple – the technology giant is working on iPhones that would cost as low as only $500. It is expected to be a cheaper version of the current iPhone in the market. The iPhone is likely to release by the middle of 2013. There are reports doing the rounds of the various media that Apple is pretty serious about this new iPhone.

Image: Apple.com

There are a couple of reasons why the Smartphone may cost that low. The first reason is that the material used in the new iPhone would be polycarbonate plastic, which will bring the cost down as the input costs are low. That is why there should be a lot of demand from those people who want to purchase an iPhone, but cannot due to the high costs.

Some experts in the industry are terming the new iPhone in the wings as ‘iPhone Mini’. The size of the iPhone will be a tad smaller than the current one, which will also help in reducing the price. However, it is interesting to note that Apple has not made any comments on these reports. So, these are all guessing games at the moment.