Bloomberg: Apple Working On ‘iPhone Nano’

Digging up a rumor we thought had died a few months ago, Bloomberg today published a report claiming that it believes Apple is working on a smaller, cheaper $200 iPhone, stating that the device would be explicitly sold off-contract.

In the interest of keeping costs down to a minimum, the report claims the new device would use most of the innards already found in the iPhone 4, except the display, which would be significantly smaller. Adding to that bombshell of a rumor, is another, with the site also claiming Apple is working on a Dual Mode iPhone.

Apple is also working on a so-called dual-mode phone, two people said. This device would be able to work with the world’s two main wireless standards — the global system for mobile communications, used by AT&T and overseas carriers including Vodafone Group Plc, and code division multiple access, used by Verizon Wireless. It is not known whether Apple intended to include this capability in the cheaper iPhone.

Finally, Bloomberg claims Apple is hard at work at creating what is known as a Universal SIM. The new type of SIM would allow users to switch from network to network with ease, essentially killing any carrier exclusivity plans for the device.

[Bloomberg via 9to5Mac]