Analysts predict that the company will showcase a cheaper iPhone in a bit to increase the company's 11 per cent share of the world smart phone market.
The current iPhone price in the US is $199, and experts are predicting that the new product will cost either $149 or $99, reports the Financial Times.
"It's either a $50 or a $100 cut," Morgan Stanley analyst Kathryn Huberty said.
Apple has so far declined to comment. The keynote speech at the WWDC, delivered by Apple senior vice-president and marketing chief Phil Schiller, is set to take place at 10am (PDT).
Apple Slashing iPhone Prices?
Rumor has it that Apple is set to introduce a lower cost version of the iPhone today (June 8) at the Worldwide Developer’s Conference (WWDC) in San Francisco.
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