Time to time we heard rumors about the smaller iPhones also known as iPhone nano. Now Bloomberg has limelight the smaller iPhone again. According to Bloomberg report Apple is working on Smaller, Cheaper Contract free iPhone which will be sell around $200 without contract. According to Bloomberg sources The smaller iPhone prototype was about one-third smaller than the iPhone 4. Apple has aimed to unveil the device near mid-year.

According to Bloomberg report:

Apple Inc. is working on new versions of the iPhone that are aimed at slowing the advance of competing handsets based on Google Inc.’s Android software, according to people who have been briefed on the plans.

One version would be cheaper and smaller than the most recent iPhone, said a person who has seen a prototype and asked not to be identified because the plans haven’t been made public. Apple also is developing technology that makes it easier to use the iPhone on multiple wireless networks, two people said.

Apple often works on products that do not later get released. So let’s see if this rumor turns to be true or not!

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