According to an article on appleinsider, the Financial Times has announced that Apple has plans to release a new iPhone model at a substantially lower price to boost sales, and the intro of this new iPhone could well happen as WWDC 2009.

The Financial Times article stated…”The anticipated new phone is likely to start production in July with the third version of the iPhone operating system, also expected to be released next week as a free upgrade for existing iPhone owners.”

For some time, analysts have been predicting Apple would chop the upfront price of the iPhone although the idea that Apple would announce a cheaper version of the iPhone as soon as Monday is quite provocative in that there is little competition which would make Apple make such a price cut.