Along with the iPad 2 and iPhone 5, a cheaper iPhone has been one of the more oft rumored Apple devices as of late. We first heard speculation of a more affordable iPhone in the middle of this month, and today Bernstein Research analyst Toni Sacconaghi is adding fuel to the fire. During a meeting with Apple COO Tim Cook, Sacconaghi claims that Cook “appeared to reaffirm the notion that Apple is likely to develop lower priced offerings” and said that Apple doesn't want its products to be "just for the rich." Cook went on to hint that Apple has some "clever things" planned for the prepaid market. Finally, the COO said that he believes that the tablet market will eventually become larger than the PC market and that he expects quite a bit of competition when it comes to tablets, although he believes that Apple has a head start on their opponents.

When Apple introduces a new iPhone, they typically give the previous model a bit of a price cut and let it stick around for another generation. If they were to unveil an all-new, discounted device alongside the new iPhone, though, the company could attract a new set of users that don't want to or can't pay for a new $200 smartphone. It'd be pretty interesting to see Apple do something with the prepaid market, too, although it's tough to figure out exactly what they may have planned. What do you all think of Tim Cook's statements? Is a cheaper iPhone a good idea?

Via MacRumors, Forbes