AppleInsider | Apple seen introducing mid-range contract-free $350 iPhone in Sept.

Apple will finally address the huge pre-paid mobile phone market in September when the company releases a mid-range, contract-free iPhone, one Wall Street analyst believes.

“It’s time for a mid-range iPhone,” analyst Chris Whitmore with Deutsche Bank declared in a note to investors on Monday. He believes Apple will offer a lower-end iPhone priced between $300 and $500 paired with a pre-paid voice offering.

Whitmore noted that of the addressable market of 1.5 billion mobile customers worldwide, two-thirds of those are pre-paid users. He sees a so-called “iPhone 4S,” released alongside an anticipated fifth-generation iPhone, as a new category of device that would help Apple address that market.

If Apple were to price this “iPhone 4S” at $349, Whitmore estimates that Apple could have the product be incremental to its corporate gross margin without negatively impacting profitability.

Read the full article here:
AppleInsider | Apple seen introducing mid-range contract-free $350 iPhone in Sept..

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