Is Apple working on a cheap iPhone?

Sources tell The Wall Street Journal that a phone built with lower-quality parts is on the horizon

Sources say the new iPhone will cost between $99 and $149.
(Image credit: Justin Sullivan/Getty Images)

Here we go again. The Wall Street Journal is reporting that Apple is planning a cheaper version of the iPhone using less expensive parts, according to "people briefed on the matter." The move would diverge significantly from Apple's traditional emphasis on quality, and is meant to offset momentum from competitors like Samsung, which is expected to post its fifth consecutive record quarter thanks to the selling power of its Android-powered Galaxy series. The Journal's sources say the new iPhone will debut sometime in 2013.

Meanwhile, Bloomberg reports that a more affordable version of the handset has been in the works since February 2011. Citing a "person familiar with the plans," the new handset will cost between $99 and $149. Apple has already spoken with at least one major U.S. wireless carrier about its plans, says the source.

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Chris Gayomali is the science and technology editor for TheWeek.com. Previously, he was a tech reporter at TIME. His work has also appeared in Men's Journal, Esquire, and The Atlantic, among other places. Follow him on Twitter and Facebook.