It's not like a new Apple rumor emerges every day. Just every day ending in a y. Latest rumbling comes courtesy of Bloomberg, pointing to an aggressive strategy on Apple's part to roll out a more diverse line of iPhones aimed at capturing every segment of the market. One of the ideas is an iPhone that's much smaller, lighter, cheaper, maybe not quite as powerful, and selling for $200 without a contract. Current iPhones range from 200-300 bucks with a 2-year contract. The smaller phone could do well in China and India where people want cheaper phones.

Big fat caveat:

"While Apple has aimed to unveil the device near mid-year, the introduction may be delayed or scrapped, the person said. Few Apple employees know the details of the project, the person said. Apple often works on products that don't get released."

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