With the smartphone competition really beginning to heat up for Apple, it’s not really that big of a surprise that the technology company is looking to lower the cost of their iPhone for everyday users. Apple Insider reports that the new lower cost of ownership will be accomplished with a new iPhone release, rather than slashing the cost of the existing 3GS.

This is vastly different than what we found last year with the release of the 3GS, whereas the existing 3G was the model to be slashed in price. No, this time around, it appears that Apple is looking to provide a lower price point to the new model being released, which will likely further drive the sales of the ever popular smartphone even further than before.