iPhone Nano on the way – analyst

Taipei (Taiwan) –Apple will release a Nano-sized version of the iPhone in the fourth quarter, according to a new report issued by Kevin Chang of JP Morgan. Chang speculated about the upcoming phone after he talked with supply chain professionals in Taipei, where he is based, and looking at Apple’s patent application for a new phone.

Chang says the new, smaller and sleeker iPhone would be cheaper than the current $499/$599 iPhone and should cost approximately $300 or less. He adds that such a low priced phone could sell 30 to 40 million united in 2008. This figure is much larger than Apple’s own prediction of 10 million units sold for the current iPhone version.

Chang does not name his sources and Apple hasn’t responded to his report.