Apple to launch low-cost iPhone

Apple will be launching low-cost iPhone shortly, Wall Street Journal today reported.

The strategy is to compete with Samsung in the low cost smartphone market.

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The report says Apple has asked its Taiwan-based supplier to begin shipping two new versions of the iPhone next month, including a lower-cost model

Taiwan-based Hon Hai Precision, the parent company of Foxconn in China, is readying both a standard iPhone with new upgrades and a less expensive model with fewer features.

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