Rumor: Financial Times Says Cheaper iPhone in the Works

Citing analysts at Morgan Stanley, the Financial Times claims Apple has plans to release a cheap iPhone at either a $99 or $149 price point, and could possibly announce it Monday at WWDC.

The article goes on to state that the move could dramatically increase Apple's smartphone marketshare and production of the new devices is thought to begin in July. But AppleInsider is skeptical of these claims, pointing out that the analyst in question, Kathryn Huberty, has a poor track record Apple predictions. I guess we'll have to wait and see, but this does seem to fall in line with recent 4GB iPhone rumors. [FT via AppleInsider]