News of Apple slashing orders of iPhone 5 components has put pressure on the company’s stock. It has also sparked speculations that Apple may be working on a cheaper iPhone at least for the emerging markets where a majority of the smartphones being purchased are low-end smartphones.
Former CEO of Apple,  John Sculley, also believes that Apple should look at launching a cheaper iPhone for the emerging markets as the market in developing markets like the U.S. and Europe gets saturated.
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