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Apple (AAPL) Will Not Introduce A Cheaper iPhone: A New Rumor

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By Douglas A. McIntyre Published
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The market of Apple (AAPL) watchers grows larger by the day and looks for the smallest hint of new news from the inventor of the Mac and the iPod.

The most recent frenzy is centered around a report from an analyst at JP Morgan based on a patent filed at the U.S. Patent and Trademark Office. There may be and might be signs in that patent that Apple (AAPL) will launch a cheap version of its iPhone to hit younger consumers.

According to MarketWatch the research note from JP Morgan says: "We believe it’s a strong sign that Apple could potentially convert every iPod Nano into a Nano phone," The speculation goes further and give some actual numbers: "If Apple’s approach is successful, Chang predicted the company could potentially ship 30 million to 40 million units of the Nano phone in fiscal 2008."

After digging through Steve Jobs’s garbage, 24/7 can say the rumor is not true, There will be no cheaper iPhone launched.

You heard it here first.

Douglas A. McIntyre.

Photo of Douglas A. McIntyre
About the Author Douglas A. McIntyre →

Douglas A. McIntyre is the co-founder, chief executive officer and editor in chief of 24/7 Wall St. and 24/7 Tempo. He has held these jobs since 2006.

McIntyre has written thousands of articles for 24/7 Wall St. He is an expert on corporate finance, the automotive industry, media companies and international finance. He has edited articles on national demographics, sports, personal income and travel.

His work has been quoted or mentioned in The New York Times, The Wall Street Journal, Los Angeles Times, The Washington Post, NBC News, Time, The New Yorker, HuffPost USA Today, Business Insider, Yahoo, AOL, MarketWatch, The Atlantic, Bloomberg, New York Post, Chicago Tribune, Forbes, The Guardian and many other major publications. McIntyre has been a guest on CNBC, the BBC and television and radio stations across the country.

A magna cum laude graduate of Harvard College, McIntyre also was president of The Harvard Advocate. Founded in 1866, the Advocate is the oldest college publication in the United States.

TheStreet.com, Comps.com and Edgar Online are some of the public companies for which McIntyre served on the board of directors. He was a Vicinity Corporation board member when the company was sold to Microsoft in 2002. He served on the audit committees of some of these companies.

McIntyre has been the CEO of FutureSource, a provider of trading terminals and news to commodities and futures traders. He was president of Switchboard, the online phone directory company. He served as chairman and CEO of On2 Technologies, the video compression company that provided video compression software for Adobe’s Flash. Google bought On2 in 2009.

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