Rumours of a ‘low price’ or ‘cut down’ version of the iPhone have been spinning around for many many months, however they surface again today in a report from BGR who are one of those few sites with credible leak sources.

While it is pure speculation, there is some real merit in the concept of what’s being suggested.

In summary, the new iPhone (4G/4S/5) whatever it is called will be the top, premium model.  The current iPhone 4 will continue as the mid range model, while the iPhone 3GS which may look old but still packs a decent punch inside will be continued as a lower cost model.

This makes a lot more sense than a ‘dumbed down’ phone.  A smaller device, or a device without the capabilities of even the 3GS would simply not work.

I for one think this would be a smart move by Apple. Keeping iPhones within reach, broadening the market and ensuring their market share can continue for some time.

We expect an iPhone announcement in September, possibly even August – only time will tell!