There have been plenty of rumors suggesting that Apple could put out an iPad mini to compete against the Amazon Kindle Fire and possibly Google’s upcoming Nexus tablet, both of which are priced extremely competitively (with the latter reportedly cheaper than the Kindle Fire). There has also been rumblings in the past suggesting that Apple could launch a cheaper iPhone dubbed the “iPhone nano”. At the moment the company’s iPhone 3GS is the cheapest and is currently being offered at $375. While it does seem a lot cheaper compared to the iPhone 4S, it’s still a lot more expensive than some budget Android phones. This is apparently the reason why (according to China Times) Apple is looking to introduce the rumored iPhone nano, a low-cost iOS device that will compete against budget Android phones and will apparently be launched later this year. Plausible? It’s a bit tricky when it comes to predicting Apple’s moves, even more so when it’s rumors about the Cupertino company’s future products so until we actually see proof that such a device exists, we’ll be taking all of this with a grain of salt for now and suggest that you do the same.