Apple will cut their margin of profit to make this new cheap iPhone available for emerging markets, specially in Asia.
Apple launched their first iPhone in 2007 and soon earned
The phone will be made by Hon Hai Precision Industries and Pegatron Corporation. This device will come with better antenna, bigger touchscreen and 8 Megapixel camera with 8GB flash storage.
Apple focus Asian markets with this low priced phone.
Low priced iPhone 4 will be launched in coming weeks before the launch of iPhone 5 which is expected in the start of October.