IPhonenanoThe cheap talk today is that Apple will be releasing a Nano-based iPhone sometime during the 4th quarter this year. This cheaper phone could definitely attract more people than the current iPhone which sells for $499 and $599.

A JP Morgan analyst made this announcement in a report and says a cheaper Nano-based phone is coming based upon findings from an “unnamed supply chain” and a recent patent filing. The phone which would have less features than the current iPhone, would presumably be sold under the $300 mark.

Interesting Fact

In the United States, 85% of consumers usually spend $100 or less on their phones. A Nano-based phone selling under the $100 mark is definitely wishful thinking, but even if it’s under $300, I think it could potentially pose a threat to other popular phone makers out there like Samsung, Motorola, Nokia, etc.

So, for those of you who don’t want an iPhone because of the current price, would an iPhone Nano priced under $300 be more appealing, even if it were lacking in features?

Source: Reuters [via Yahoo](Thanks for the tip Cory!)