iPhone… nano?

Recently a Apple product Rumor has been floating around that a new iPhone is in the works, The Phone will be less expensive and is about 1/3 smaller than the current iPhone 4.

The Rumor (originally started byBloomberg)  States that the iPhone would cost around $200 USD and Have no two year contract.

Apple is not confirming nor dening this rumor as usual.

My question to you is, what do you think about this rumor?

Good, bad?

My personel opinion is all for it, a smaller cheaper iPhone with no contract would be welcomed with open arms in Austrailia and New Zealand as at the moment Iphone’s on the cheapest contract cos $699 for the handset with an ongoing contract which is $45 every month for two years.

Leave your opinion below.