Steve Jobs, as the world is aware of, always worked towards building quality products that added value for money and gave rich user experience over the ones that came with low price tag and compromised with features including the size. But now, Apple is in for too much of experimenting and trying to get closer to the competition in-terms of redesigning their existing products to fit all pockets!

After its launch of iPad mini in the month of October last year, rumors has it that Apple is planning to come up with iPhone mini in 2014. As the report is seen on   it is said that the Apple needs to find newer ways to make profit in 2014 which is otherwise doing great business in 2013 through its iPhone 5. But as foreseen by Mawston, Samsung will capture 33 percent of the 2013 smartphone market and Apple will have its share of 21 percent. Apart from Mawston, strategy analytics, Jeffries analyst Peter Misek also believes the possibility of such a smartphone and said it would cost anywhere between $200 and $250 according to the source.

Apple is now on the second position following the lead Samsung in the smart phone business. As per the analysis by Mawston, the high-end smartphone market is nearing saturation and to survive the competition, to gain the first place and also to fill the gap and tap the cheap smartphone market, iPhone is rumored to release this new “iPhone mini” in 2014.

The question is- “would there be a market for this cheaper and smaller iPhone?” As per the Forbes, this “Honey I shrunk the iPhone” version could have a huge market in countries like China and India apart from the craze that could develop in USA.

People already using the current versions of high-end iPhones might not want to switch to the miniature of the same but yes, other potential customers who are using cheaper smart phones would definitely switch to a better alternative like iPhone mini.

If at all this rumor becomes reality, would you opt for an iPhone mini?