If a concept idea for Apple product seems to make legitimate sense, the chances are, the rumor will resurface again and again until – if ever – that idea reaches fruition.

According to a new report coming out of BGR, the company might be planning to continue selling both current iPhone models, the iPhone 4 and a modified version of the 3GS, even after the next-generation iPhone is released. Is Apple working on tier pricing the device in order to attract more customers?

During an interview with Bernstein analyst Toni Sacconaghi, Apple’s Chief Operating Officer Tim Cook hinted at a new, cheaper iPhone on the horizon, writes Business Insider.

Recently, The Wall Street Journal, Bloomberg and CultofMac all weighed in from their different sources about iPhone nano / mini rumors which according to them would launch alongside the next iPhone in summer this year.

Sources close to CultofMac has informed them that the smaller iPhone, which Apple is rumored to be working on will eliminate the need of internal storage, and will instead rely on cloud-based content.

MacRumors is reporting that The Wall Street Journal has updated their previous story about Apple working on smaller iPhone, by adding new details. According to their report, the new smaller iPhone which Apple is rumored to be working on will sport an edge-to-edge touch-screen display, along with voice based navigation for Maps.