Apple Working On New Versions Of The iPhone That Will Be Mor

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Apple (NASDAQ:AAPL) is working on new versions of the iPhone that may help to slow down the advance of competing handsets based on Google's (NASDAQ:GOOG) Android software, according to a Bloomberg report, which cited people familiar with the matter.A version of the device may be cheaper and smaller than the most recent iPhone, according to a source who has seen a prototype.The company is also developing technology that makes it easier to use the iPhone on multiple wireless networks.CEO Steve Jobs would use the lower prices to widen the iPhone's appeal and keep it from losing further ground to Android devices.

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