Q4 iPhone May Look To iPod Nano For Inspiration

Acting off a hunch, a patent, and some reliable inside information, Kevin Chang of JP Morgan believes that the iPhone Apple plans to release in Q4 of this year could be based on the iPod Nano. The iPhone has done well thus far, but the price tag of $500 to $600 depending on storage size is keeping Apple's first cell phone out of the hands of those who can't afford one. It is currently speculated that the Q4 iPhone will cost somewhere around $300, half of the price of its bigger brothers. 
Apple filed a patent application document dated July 5 that refers to a multifunctional handheld device with a circular touch pad control, similar to the Nano's scroll wheel.

Apple spokeswoman Natalie Kerris declined comment.

Long lines of people turned out on June 29 when U.S. sales began for the iPhone, a mobile phone with a music player and Web browser. Analysts have estimated that sales in the first weekend were as high as 700,000 units.
If Chang's hunch is correct we can expect to see a smaller, thinner, and most importantly cheaper iPhone from Apple in the near future. In the opinion of this author it will be a welcome change since after being spoiled by the size of a RAZR a phone as big as an iPod just won't do.
Tags:  ATI, iPhone, iPod, Phone, Nano, IPO, iPod nano, Q4, One, Pi, IP, K