Apple Inc. is working on a lower-end iPhone, according to people briefed on the matter, a big shift in corporate strategy as its supremacy in smartphones has slipped, The Wall Street Journal reported.
The cheaper phone could resemble the standard iPhone, with a different, less-expensive body, one of the people said.
One possibility under consideration is lowering the cost of the device by using a different shell made of polycarbonate plastic; in contrast, the iPhone 5 currently has an aluminum housing.
Many other parts could remain the same or be recycled from older iPhone models.
Today the iPhone is Apple's chief revenue driver, with sales of iPhones and related products and services accounting for 48% of revenue in the quarter ended in September.