Apple Rumored To Be Making Cheaper iPhone

The Wall Street Journal has more: “While Apple has explored such a device for years, the plan is progressing and a less expensive version of its flagship device could launch later this year, one of the people said. The cheaper phone could resemble the standard iPhone, with a different, less-expensive body, one of the people said.”

Apple and its mobile carrier partners carry the iPhone 5 for $199 (16GB edition), which requires a two-year carrier contract.