What would new Apple's iPhone look like? It might be smaller and cheaper! Apple is now working on a mini edition of iPhone, according to foreign media reports Monday.

Customers pack a Verizon Wireless store in New York to buy the iPhone 4 shortly after the phone went on sale with Verizon service in New York, February 10, 2011. (Xinhua/Reuters Photo)
The new iPhone would be about half the size of the iPhone 4, the Wall Street Journal quoted as people who saw a prototype of the phone last fall as saying.

The screen of iPhone 4 measures 3.5 inches on the diagonal, meaning a halved screen would measure 1.75 inches -- only slightly larger than the current iPod Nano’s 1.54 inches.

With the volume reducing, the iPhone Nano may be more competitive on price-- it can cost just 200 U.S. dollars without a contract, British Daily Mail citing an anonymous source close to the company.

Apple is aiming to introduce the device this summer, the source says, as a separate introduction from the next version of the regular iPhone.

Apple faces increased rivals in the smartphone market, such as a rising number of Google Android devices. Nokia also announced on Feb. 11 a new alliance with Microsoft, which means Windows Phone 7 would be ported onto the former’s devices.

Therefore, delivering a smaller, cheaper iPhone model might enable Apple to expand its share of global lower end phones market.

So far, Apple has no comment on all of the speculations yet. (Agencies)

VietNamNet/Xinhuanet