Apple is working on a new smaller and cheaper iPhone

According to a new report by Bloomberg, Apple is currently working on a new iPhone for more budget-conscious users. The new smartphone is expected to increase the company’s market share in the mobile communications industry, giving users a less expensive alternative to the iPhone.

A source at Bloomberg stated that the new device is just a third of the size of the iPhone 4. Because it uses technology similar to that employed on the iPhone 4 rather than the upcoming iPhone 5, the phone will sell at a much lower price, making it more affordable for those that cannot shell out $500 on an iPhone.

This gives Apple the ability to compete with the increasingly popular Android. Because the Android operating system is available on many different types of phones, the price range varies greatly, making Android phones the right alternative to the iPhone.

This will certainly heat up competition in the mobile gaming market. The new iPhone is likely to encourage more users to get into the smartphone trend, thus increasing the demand for new and innovation mobile games. This will certainly be a challenge for online casino operators, as the mobile gaming industry develops at rapid rate – but developers are keeping themselves busy with new apps every day.