“Piper Jaffray Analyst Gene Munster weighed in this morning on the recent reports that Apple is working on a cheaper version of the iPhone,” Steve Kovach reports for Business Insider. “The phone will reportedly be targeted at emerging markets where carrier subsidies are negligible or don’t exist yet.”

“Munster has been predicting a cheaper iPhone for a long time now, and gives the device a 60-70% chance of launching in 2013 based on the recent reports,” Kovach reports. “[Munster writes], ‘We believe it is more likely that Apple prices the phone at $149 or $199, more likely closer to $199, off contract given Apple’s history of commanding a premium to the market and believe the core competition at that price level would be $99-199 Android devices.'”

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Bloomberg: Apple developing cheaper, smaller iPhone for 2013 holiday release – January 9, 2013
WSJ: Apple prepping less-expensive iPhone – January 8, 2013
Apple to launch low-cost iPhone with 5-inch display for emerging markets in 2H13, sources say – January 8, 2013
Barclays: Cheaper iPhone for emerging markets ‘key’ for Apple – December 4, 2012