Apple may release a cheaper iPhone for India and China in 2014

The iPhone 5's success is undeniable as five million handsets were sold in the first weekend of its launch. The handset has been selling pretty well in India too and the initial batch had sold out almost immediately. However, India is a tiny market for the Apple iPhone as it is priced considerably higher than its rivals. A report by analyst Gene Munster has now put forward a claim that in order to tackle markets like India and China, where Apple’s user base is not very large, and the brand will launch a cheaper handset that will be ideal for these markets.A report by Business Insider explains that in the US, if one wants an iPhone 5, they pay $200 as the carrier pays the rest of the cost. The report states, “You pay $200, but Apple collects ~$600. That carrier covers that $400 gap, and hopes to make the money on your data charges.”

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