Apple is set to unveil a budget version of the iPhone 4 within the next few weeks according to a Reuters report.
The cheaper smartphone is designed to widen the appeal of Apple smartphones in emerging markets such as China where Apple demand has already increased six fold in the last year.
The budget iPhone 4 will be unveiled at the same time as the next-generation iPhone 5, Reuters said. The cheaper iPhone 4 will be cut-back to 8GB of flash storage, the Reuters sources claimed.
As for the next-generation iPhone 5, two manufacturers have been told to prepare production capacity for up to 45 million units altogether, the sources said. The phone will be made by mainland China's largest export company Foxconn and Taiwan-based Pegatron.