Apple may be planning a cheaper USD 99 iPhone  sometime this summer, according to RBC analyst Mark Abramsky. It is told that the $99 iPhone will not run on AT&T’s faster 3G. The report also says Apple will start selling updated iPhone 3G.

The Silicon Alley Insider pointed-out:

• The main cost reductions would come from fewer features — not a crappy ‘iPhone nano’ or something without a multi-touch screen. Abramsky thinks it might have a lower-resolution camera, no 3G Internet access or GPS, and a cheaper data plan (~$15/month) with a usage cap. We agree that lowering the monthly bill would help drive iPhone sales, but carriers won’t be thrilled.
• Meanwhile, the iPhone 3G will get feature upgrades, such as a better camera, video capabilities.

There are so many reports like this, we hope Apple would like to say something – whatever.