According to numerous media outlets, Apple has been in development of this new phone for a while but are having trouble balancing the features and the desired low cost of the phone.
It is rumored that the phone will be roughly half the size of the current iphone and will focus on internet usage and cloud storage. Cult of Mac later repeated the rumor about a focus on cloud storage.
So what is your verdict? if the Iphone Nano does exist will you consider purchasing it with the lower price tag?