Yesterday we updated you about the recent rumor for the upcoming iPhone that Apple will be launching two iPhones this year, one that is a higher-end with more advanced features and the other one will be the lower-end that will be cheaper and a bit smaller in size as compared to the recent iPhone 5. Now the next rumor says that cheaper upcoming iPhone, which we called iPhone mini will arrive in late 2013 and will cost $99 to $149.

Apple is bringing this cheaper iPhone to the market in order to rule over the emerging markets of the developing countries. After introducing the iPhone 5, Apple kept selling the iPhone 4S and iPhone 4 at reduced prices, which attracted low budget customers. But here the company was focusing the low budget customers to a smaller extend, however, this time by introducing iPhone mini Apple will be focusing more on this slot of customers.

As per the recent update by Bloomberg this cheaper iPhone’s price will range between $99 to $149. That’s the full, unsubsidized price customers would be paying without having any commitment to a carrier.

Apple has been working on this low budget iPhone since February 2011 and will be releasing it in late 2013. For this, the company has already spoken to at least one of the top U.S. wireless carriers about its plans. As this iPhone will be having lower price thus it will have components less expensive or many parts could remain the same or be recycled from older iPhone models.

Another sources that makes this rumor legitimate is the the Wall Street Journal who reported yesterday that a cheaper iPhone may debut later this year. It also said that the cheaper phone could resemble the standard iPhone, “with a different, less-expensive body”.

So may be this time you might save some money while buying the upcoming iPhone. But nothing is finalized until claimed by the fruit company itself.

Stay tuned at Maypalo and follow us on Twitter or join our Facebook Fanpage to keep yourself updated on all the latest News!