Apple To Sell A Lower Priced Device at $350 With No Contract, Possibly iPhone 3GS?

Apple is planning to launch a lower cost pre-paid iPhone this year, according to a source at BGR. The device is speculated to be the iPhone 3GS and would be priced at a low $350 without a contract. The iPhone sporting a lower price is thought to be have a release time frame of end of summer to August.

In addition to offering the lower priced iPhone 3GS, Apple  is expected to continue to sell the current iPhone 4 as well, which would give Apple a full spectrum of priced devices in the low, mid, and higher price points.

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