Apple Building Less Expensive iPhones

Apple Inc. (NASDAQ:AAPL) is building a new line of iPhones that are less expensive than existing devices. The prototype of the new iPhones are about half the size of the iPhone 4 and will cost half the price. Apple is also rebuilding the MobileMe online storage service. The service lets people sync calendars and contacts on Mac OS, iPhone, iPod, and iPad devices. Apple is considering making MobileMe free according to the Wall Street Journal. [WSJ]

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