Apple to Introduce Cheaper iPhone at WWDC?

Financial Times confidently reports that Apple is planning on launching a "cut-price" version of the iPhone on Monday.

Apple plans to introduce a cheaper version of its popular iPhone as soon as Monday, in a move that could dramatically increase the companys share of the market for web-surfing devices, people familiar with the initiative said on Thursday.

Analysts are predicting the cut would be either $50 or $100. If true, the drop would significantly stimulate sales of Apple's iPhone by up to 100%. The new phone is expected to start production in July.

Financial Times has been reasonably accurate in the past, though most their previous information had been surrounding Apple's negotiations with record labels.