Apple is working on developing new versions of the iPhone that will be cheaper and smaller and are geared at competing with Google’s Android software, Bloomberg News reports.
Apple’s also working on technology that makes it easier to use the iPhone on multiple wireless networks, the story adds.
Google’s share of the global smartphone market more than tripled in the fourth quarter, reaching 32.9%, and outpacing Apple’s 16%, the article adds. The new iPhone may sell for about $200 and wouldn’t obligate users to sign a two-year contract.
Apple may unveil the device at mid-year, although it’s possible the plans could either be delayed or canceled. Apple declined to comment, the piece adds.