According to Boomberg, Currently Apple is working on cheaper and smaller iPhone. This version of iPhone 4 will be available at a price of $200 USD off contract. The size of this new version of iPhone 4 will be 1/3rd smaller than the current version of i Phone 4. Bloomberg reports that this new version of iPhone 4 will support both CDMA and GSM networks. This cheaper and smaller version of iPhone 4 will be sold without contract, which makes it cheaper as the current version of iPhone 4 is available at a price of $600 USD off contract.
We are expecting that the screen of new version iPhone 4 will be smaller and it will not support retina display. This cheaper and smaller version of iPhone 4 will be released around mid 2011. We also know Apple is planning to launch iPhone 5, iPad 2, iPad 3 around the same time.