An iPhone is one universally appealing handsets, and nearly everyone and their dog needed to have one when it first appeared on the smartphone scene all those years ago. Well, while we have heard rumors of a smaller iPhone for some time already, Apple COO Tim Cook apparently informed folks at a meeting that the fruity company is contemplating on rolling out a more affordable iPhone option, with the chance of working with carriers in order to deliver better rates. Cook is also purported to have informed an analyst that Apple will be working on “clever things” in the prepaid scene. Well, if there is a cheaper iPhone in the works and should that actually end up being successful, then who are we to say that a cheaper iPad won’t be in the pipeline after?