Apple might be preparing a smaller, less-expensive version of the iPhone for release this year, according to multiple media outlets.
The smaller iPhone could be half the size of a normal iPhone, and it may have a strong focus on internet-streamed media and "cloud" storage, according to The Wall Street Journal.
Bloomberg followed up with a report citing a source who claimed to have seen a prototype of the device.
Neither publication had details on device specifications or pricing. Cult of Mac later echoed the rumor about a focus on cloud storage, adding that the smaller iPhone's storage had to be extremely pared down to reduce costs.
Whispers of a so-called "iPhone Nano" have made the rounds for years, but mainstream media outlets such as WSJ add more credibility to the rumor. It would be an opportune time for Apple to introduce such a product to compete with cheaper, smaller Android smartphones, as well as HP's miniature Veer smartphone introduced last week alongside the TouchPad tablet.
*Photo of a Chinese counterfeit of an iPhone Nano: *maxime/Flickr
