Apple (AAPL) is reportedly working on a cheaper, smaller iPhone, and may overhaul its online...

|About: Apple Inc. (AAPL)|By:, SA News Editor

Apple (AAPL) is reportedly working on a cheaper, smaller iPhone, and may overhaul its online file-storage service to make it easier for users to access their photos and videos. CEO Steve Jobs has apparently been closely involved with both initiatives during his medical leave.