Along with iPhone 5, a Cheaper Version iPhone in the Works

Apple Product news has been big throughout the years and now with its alleged iPhone 5 September launch, things seem to have got even more out of hand.

With less than 6 months since Apple launched its iPad 2, consumers already seem to have a big appetite for Apple's iPad 3 which may come out at the end of this year.

For developing countries however the high cost of Apple products have always barred them from being part of the party that is until now.

According to Bloomberg citing "two familiar people", Apple is in the works for developing a much cheaper version of its iPhone that could be well afforded in developing countries.

Previous Apple products that have had official release dates and outlets for an average of 45 countries, the wealthier 45, may extend its dominance on the smartphone market by targeting key emerging countries like China, Brazil, India and Russia with a cheaper iPhone made available.

Although the price would be made more accessible, Bloomberg informed that as far as performance, the device would possess "chips and displays similar to today's iPhone 4".

Apple products have been popular all over the world, especially the iPhone, Apple's top seller, that accounted for half of the company's revenue last quarter.