The Cheaper iPhone Will Arrive Late This Year, Says Bloomberg

Remember all the buzz yesterday about Apple's impending "cheaper iPhone?"

Bloomberg is now agreeing with the WSJ report that the device will arrive late this year.

As a refresher, the phone would supposedly retail in the $99-$149 neighborhood, which would make it very appealing to customers in developing markets.

Bloomberg's report points out that "Android made up 75 percent of smartphone shipments in the third quarter, compared with 15 percent for Apple, according to IDC," so a more affordable iPhone would certainly help Apple catch up on this gap.