JPMorgan analyst Kevin Chang has released information that suggests that Apple may be releasing an iPhone Nano as early as 4th quarter 2007. The release of a smaller version of the iPhone would likely retail for around $300 which would be $100 - $200 cheaper then the already available Apple iPhone.

The release of an iPhone Nano would likely boost iPhone sales to close to 40 million units for 2008. The iPhone already has reached sales of 700,000 units within the first month of retail sales.

However, there are some skeptics about the iPhone Nano release. Many industry analysts are already predicting that Apple's next move will be to make the Apple iPhone available on AT&T's faster 3G network to increase access speed for the iPhone.

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