“Gene Munster with Piper Jaffray believes a so-called ‘iPhone for the masses’ is likely an inevitable device from the company,” Neil Hughes reports for AppleInsider.

“In his view, Apple ‘needs’ to develop a low-cost iPhone for the masses that will compete with inexpensive Android devices that are currently finding success in the market,” Hughes reports. “For Apple to do this, Munster said the company could reduce the price of an existing phone, representing a more aggressive continuation of the company’s current strategy. Or, he said, Apple could make small changes, such as a handset without a Retina display and moderate components sold for a $200 price point contract-free.”

Read more in the full article here.

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Analyst: Apple to make cheap iPhone by 2014 – November 24, 2012