Iphone the most recognized smart phone brand in the new generation mobile phones is ready to take its first step forward towards creating another milestone in mobile technology. There is lot more to this new technology, called NANo.. It is indicated that Apple Iphone nano will soon launch a cheaper version of iphone for targeted users who dont have deeper pockets, however this Apple Iphone Nano is supposed to be ,much smaller in size and with less features. The best part will be it is going to eat up the market with a price tag of iPhones Nano for as little as $199 with a two-year contract, might bring in more competition.

According to the Wall Street Journal, “The new phone—one of its code names is N97—would be available to carriers at about half the price of the main iPhones. That would allow carriers to subsidize most or all of the retail price, putting the iPhone in the same mass-market price range as rival smartphones…”

One Report Says that Nano will have less storage space as the whole data will be cloud supported. This gives a good indication for iPhone developers, more iPhone owners means an even greater opportunity to sell apps (or in-app advertising).

The competition will certainly give a big fight with Google Android, which has already captured the lower end of the market, Now the challenge is upto Apple Iphone Nano to make it a big buzz.