To gain market share in cost-sensitive markets like India and China, Apple is planning this move, predicts Strategy Analytics.
"We think Apple will have to launch an 'iPhone Mini' at some point over the next three years to address the hundreds of millions of prepaid users worldwide that cannot afford the current iPhone," Neil Mawston, executive director at Strategy Analytics, quoted as saying by Reuters.
Apple is expected to launch a newer version of iPhone, probably the rumoured iPhone 5S, soon. According to reports, Apple is also mulling to launch this handset in different display sizes out of which one could be the iPhone Mini which will be priced very affordably that would make it attractive in cost-sensitive markets like India and China, where Apple till now has little presence.
Apple also believed to ignore such cost-sensitive markets because of the price factor of its handsets. So it is palpable that Apple wanting to come up with a low cost iPhone to counter Samsung's advances, which last year become the No 1 smartphone maker in the world.
As per reports, Apple's biggest manufacturer Foxconn is close to sign a deal with Indian government to set up base in India.
The web is on fire with reports of Apple toying with glass body for its iPhone 8.
The 9.7-inch iPad Pro features an LED-backlit Multi-Touch Retina display with 2048x1536 pixel resolution.
In India, Apple's iPhone SE is to be sold at a higher price tag compared to international markets
In India, the Apple iPhone SE 16GB will be available for Rs 39,000 while 64GB variant will cost Rs 49,000.
Apple iPhone SE is set to be launched in India next month.
The 9.7-inch iPad Pro will be available for purchase from next month onwards.
Apple iPhone SE will be launched in India from April for Rs 39,000 for the 16 GB version.
Besides, Apple is also expected to announce new iOS version (iOS 9.3) along with watchOS 2.2 and tvOS 2.2 during today's event.
Apple is holding an event this March 21 where it is now expected to unveil its latest gadgets.