iPhone Nano?

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According to a JP Morgan report, Apple is planning to launch a cheaper version of the iPhone.

Kevin Chang, a JP Morgan analyst based his report from people in the supply channel that he did not name and an application with US Patent and Trademark office. The patent application was for a multifunctional handheld device with a circular touch pad control, similar to the Nano’s scroll wheel. He also added that such device could be priced at $300 or lower.

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