Many professional reviewers like CNET dub the iPhone's screen to be on the small end of things, saying the 3.5-inch display should be the minimum size for touchscreen smartphones. Apple obviously disagrees with this because Wall Street Journal wrote an article today confirming with their inside sources that Apple is currently working on an iPhone that will be half the price of the current iPhone, making it around $99. It's likely this iPhone would also be a bit smaller.

WSJ also has a few things to say about a possible overhaul of Apple's MobileMe cloud service.

Apple also is exploring a major overhaul of its MobileMe online storage service, the people familiar with the matter said. The service currently requires an annual subscription payment of $99 to $149. Apple is considering making Mobile Me a free service that would serve as a "locker" for personal memorabilia like photos and videos, eliminating the need for consumers' devices to carry a lot of memory, the people familiar with the situation said.