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Apple's COO Hints a Smaller iPhone Nano is Under Development

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More suggestions that Apple could deliver a lower cost iPhone, this time from within Apple itself. Citing a meeting held with Apple's COO Tim Cook, CFO Peter Oppenheimer and VP of Internet Services Eddy Cue, Bernstein Research analyst Toni Sacconaghi said that Tim Cook "appeared to reaffirm the notion that Apple is likely to develop lower priced offerings".

He added that the company is planning "clever things" to address the prepaid market, and that Apple did not want its products to be "just for the rich," and that the company is "not ceding any market."

There have been recent rumours that in addition to a larger 4-inch screen for the iPhone 5, the company could launch a smaller version to target the cheaper end of the smartphone market, where Android OS based phones are making strong inroads - a so-called, iPhone Nano model.

He also wrote that the Apple executives "projected a very confident tone," and that Apple is focused on "the right things," in particular expanding the market for the iPhone and capitalizing on "explosive" tablet demand.

Cook also said he expected intense competition in tablets, more so than in smart phones, with all PC and smart phone vendors likely to participate, but he added that Apple has a strong head start. He also talked about interesting things being developed by the company without elaborating.

The company is expected to announce the iPad 2 this Wednesday at a pre-announced press conference.

On the web: Forbes

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Tags: apple iphone  ipad 2  iphone nano  iphone 5  planning  planning  tim cook