Apple iPhone Mini Rumors Has Smartphone Costing Under $250

The Apple iPhone mini rumors have the mini costing under $250. The new iPhone mini would be a smaller budget version of the iPhone 5, which is similar to how the iPad mini shrinks the full iPad.

Tech Spot explains the rationale behind Apple releasing an iPhone mini:

“The idea behind a smaller iPhone is simple – make it more affordable which in turn will open it up to a much larger user base. It’s no secret that Samsung is winning the proverbial smartphone battle as recent data shows the Korean electronics giant is expected to account for one third of all smartphones sold this year. Apple’s iPhone, on the other hand, is forecasted to capture 21 percent of the market, just a single percentage point more than last year.”

Jefferies analyst Peter Misek thinks the iPhone mini could launch early this summer at a price of $200 to $250. Strategy Analytics analyst Neil Mawston told CNET that he thinks an iPhone mini is definitely in Apple’s future but perhaps not so soon:

“We believe Apple will have to launch an ‘iPhone Mini’ at some point over the next three years to address the hundreds of millions of prepaid users worldwide that cannot afford the current iPhone. The iPhone 5 is growing fast and profitably right now, so there is limited incentive for Apple to launch a profit-squeezing ‘iPhone Mini’ this year. We expect the ‘iPhone Mini’ to be more likely next year, in 2014, when Apple’s penetration of the global postpaid smartphone market will be nearing saturation and Apple will be forced to discover fresh growth streams elsewhere.”

As previously reported by The Inquisitr, other Apple rumors see the release of the iPhone 5S in June. Rumors have the next generation iPhone incorporating more advanced features like an iOS and Mac OS X integration along with pico projectors to create virtual keyboards and a full-screen desktop display. But it’s possible such high concept features will be reserved for an iPhone 6 to be released some time in late 2013 or perhaps even 2014. There’s also the possibility that Apple will enter the smartwatch market and produce an iWatch in 2013. This device would communicate with your iPhone and iPad in order to quickly check or control your iDevice.

Would you buy an iPhone mini this summer if the rumors are correct?