There have been rumors of an iPhone Nano since the release of the original iPhone. The original iPhone was an outrageous 500 dollars with a new contract so people were clamoring Apple to develop a new cheaper iPhone. 4 years later, people are still asking Apple to create the cheaper iPhone Nano because the iPhone has too much for them.

Apple COO and CFO recently addressed these rumors and demands about creating an iPhone Nano. They described the product as having to be “innovative and category-killer experience.”

The users who have been clamoring for an iPhone Nano and will not get the 200 dollar iPhone have been drifting towards the older, now affordable Android phones that are full featured and are much cheaper than the iPhone currently is.

From iDB:

So, what would an “Innovative, category-killer experience” be like for an upcoming iPhone? The hopes have been that Apple would release a cheaper iPhone model to compete with the plethora of cheap Android handsets that have flooded the market in recent months. In the meeting with Abramsky, Apple execs commented that they observed an “explosion of low-priced Android smartphones” and that they are prepared to face the opposition with Apple’s “sustained advantages.”

Apple could potentially be another option for another 1.5 billion mobile customers world wide if there were to introduce a pre-paid iPhone.

Would you buy an iPhone Nano? Leave your thoughts below.