Cheaper iPhone "nano" rumored to launch this year

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Apple
(CBS News) Rumors of a low-cost iPhone "nano" are making rounds.

A new report by the China Times claims that Apple is planning to release low-cost iPhone "nano" this year. According to the Times, the move aims to make gains on the low-end smartphone market.

Full coverage of Apple at Tech Talk

If the rumors are true, the iPhone "nano" could be released with the next iPhone. While there is no solid release date for Apple's next smartphone, all reports hint at a June launch.

Next iPhone said to ditch glass for Liquidmetal, arrive in June

All of the buzz could amount to wishful thinking, however. There was also talk of a cheaper iPhone model leading up to the launch of the iPhone 4S. No such iteration was announced. The entry point for an iPhone is $375 for an unlocked iPhone 3GS.

Apple iPad mini rumors resurface

This isn't the only rumor about a low-cost Apple product. Rumors of a 7.85-inch iPad mini have been circulating. In March, DigiTimesreported that "makers" in Apple's supply chain started "delivering samples of 7.85-inch iPads for verification."

The most recent report by the Chinese blog NetEase claims Apple has placed an order for an iPad mini. According to the report, 6 million units have been ordered for release in the third quarter. The rumored smaller tablet is estimated to retail anywhere from $249 to $299.

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