Apple hints iPhone 5 'product transition,' cheap model too

Apple during its spring 2011 results call made strong allusions to new iPhone launches in the summer. The company warned its profit margin would drop from 41.7 percent to 38 percent due to a "product transition" having an impact in the quarter. A chance exists that it may be a new MacBook Air, but the large volume of iPhones could make at least one new model more likely....

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