Rumor of iPhone nano Quashed in Subsequent JPMorgan Analysts' Report

An early JPMorgan analyst report speculated that Apple hoped to release a low cost $300 iPhone "nano" based on the iPod nano by the end of this year. It was carried widely all over the Web yesterday. But subsequent JPMorgan analysts poo-poo'ed the idea in a separate report yesterday, according to CNet, cautioning that such a possibility was unlikely.

Almost everyone, including us, believes that the next iPhone iteration will be one that works on a speedier 3G network and contains additional features, possibly GPS (hope, hope). A lower cost, stripper iPhone may be in the cards but likely only when the present feature-rich and more lucrative form begins to run out of gas in the market and that probably won't be for quite some time. [Dana Baggett and Bill Fox]