Rumours suggest company is about to announce iPhone's third version
Apple is rumoured to be announcing a cut-price version of the iPhone today (June 8).
Analysts predict that the company will showcase a cheaper iPhone in a bit to increase the company’s 11 per cent share of the world smart phone market.
The current iPhone price in the US is $199 (£124), and experts are predicting that the new product will cost either $149 (£93) or $99 (£62), reports the Financial Times.
“It’s either a $50 (£31) or a $100 (£62) cut,” Morgan Stanley analyst Kathryn Huberty said.