Apple may be about to launch a cheaper version of its iPhone 4 as it seeks to compete with Nokia and Microsoft in markets such as China.

According to the Reuters news agency, Apple is in talks with Chinese mobile operators and the handset could be launched within weeks.To date Apple has targeted the premium end of the mobile phone market.
“It is more likely that Apple will price down its existing model when it releases its next flagship product,” said Ben Wood, an analyst with CCS Insight.
The lower specification model would, according to Reuters, feature 8GB of internal storage, as opposed to 16GB or 32GB on the current iPhone 4.

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