Buzz growing about scaled-down iPhone for the holidays
 

*Source: News.com (http://news.com.com/8301-10784_3-9747080-7.html)*
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If you like the iPhone (http://www.cnet.com/apple-iphone.html) but can't swing the purchase price, you might not have to wait long for a cheaper alternative.

AppleInsider is reporting (http://www.appleinsider.com/articles...olida ys.html) that Apple has a second iPhone in the works for later this year that won't be quite as capable as the one currently out in the wild, but that will cost less and resemble the iPod Nano. The site based its report on the word of "extremely reputable sources" that declined to be named, presumably for fear of losing their jobs.

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