Apple currently accounts to about about 11 per cent of the world’s smart phones market, trailing behind Nokia’s 41 per cent volume and Research in Motion’s 20 per cent, according to Gartner figures from the first quarter.
The news, of the new cheaper iPhone is expected to be divulged by apple during the developer conference, a conference which Apple usually uses to introduce most of their products. However till today, Apple has declined to comment the news which has been widely reported in all international media. The much awaited conference, begins on Monday with a keynote speech by senior vice-president and marketing chief Phil Schiller. Reports are also spreading that during the conference it will also be announced that founder Steve Jobs is planning to return to work after a period of medical leave.
Coming back to the new iPhone, with the price reduction of $100 Apple is expected to increase demand by 100%. The production of the new iPhone is expected to start in July. While iPhone and Apple enthusiasts will be longing to see the latest product from Apple, competitors such as Palm (which was famous for its PDAs in the 90s and is aiming to revive its fortunes and take market share from Apple) will not be very happy to hear this news.