Rumored low-cost iPhone suggested as Apple's entry into new markets

April 16, 2013 at 7:33 PM

MINNEAPOLIS, April 16 (UPI) -- A rumored low-cost iPhone would cannibalize sales from the more expensive model but give Apple entry into the low-end smartphone market, a U.S. analyst says.

Investment analyst Gene Munster of Piper Jaffray said he expects Apple to begin offering a $300 non-subsidized iPhone starting in September, CNET reported Tuesday.

While for every three low-cost iPhones sold a sale of one full-price iPhone could be lost, it could give Apple an 11 percent share of the low-end smartphone market, where it currently has no presence, Munster said.

Apple could possibly see sales of 75 million low-cost iPhone models in 2014, he said.

Some analysts said a low-cost iPhone could look different from the flagship iPhone 5.

Topeka Capital Markets analyst Brian White said information from some suppliers and vendors suggests a "low cost" iPhone could come with a curved back casing made of colored plastic that is thicker than the iPhone 5.

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