Analyst report forecasts $99 iPhone for the summer

Now that Apple has the iPhone hype machine going full steam (and then some), the next logical step certainly seems to be a cheaper version of the device. Gadget sites have already written many words on the subject, but now, an RBC Capital Markets analyst has posted a report saying a $99 iPhone will launch this summer.

The note even includes specifications. As CNet reports, Apple's $99 handset will supposedly inherit the iPhone 3G's display and form factor, but with only EDGE, Wi-Fi, and Bluetooth connectivity, less flash memory, no GPS, and a "light" data plan. RBC's Mike Abramsky expects an international launch in June or July.

Of course, you don't need to sacrifice a goat to foresee a new iPhone launch in the late spring or early summer. The first-gen iPhone hit stores on June 11, 2007, and the iPhone 3G followed on July 11, 2008. Together with the $99 device, Abramsky expects Apple to launch a full-blown, third-generation iPhone with a higher-density display, faster 3G connectivity, and up to 32GB of flash memory.

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