Apple has been rumored to be working on a lower priced iPhone model to better compete with Android offerings, but according to a source close to the matter, these phones may actually be getting field tested. We've seen many an iPhone launch come and go, with the premise of a newer device with newer software and "low-end" build materials. By using lower priced build materials, Apple would be able to afford to pump out a cheaper device without compromising their bottom line. Essentially paying less to build a phone that could potentially make more. All this comes on the heel of Apple losing ground in the smartphone space thanks in part to Samsung, and their complete adoption of the Android OS. With Apple deploying lower priced iPhone models, not only would they be able to better compete with the pace that Android devices are released, but they would surely be able to recapture some of the lost momentum of the past quarter. Whether or not these devices actually see the light of day remains to be seen, as the source was very quick to say that Apple could "scrap this idea at any moment". Either way, I'd be excited to see how Tim Cook and gang would pull this one off. Would you?