CNNMoney reported yesterday that from a July 5 patent application filed by Apple for “a multifunctional handheld device with a circular touch pad control, similar to the ultra-slim Nano’s scroll wheel,” a Nano version of iPhone may be on the anvil. But the same firm (JP Morgan) that released the news had another one of its analysts claiming that a lower priced version may not be there that soon (MercuryNews).

Well, can’t blame the analysts for a company that is so notoriously secretive about its future products. However, this would be one great way for Apple to further cash in on the astounding success of the iPhone, which has sold more than 7,00,000 units on the first weekend. Also, a lesser priced phone would cater to a larger part of the U.S. market.

The iPhone marketing strategy may go down as one of the most successfully driven campaigns, with the sleek device capturing the attention of whole Web community and standing up to its hype. A scaled down version would definitely further endear Apple to more customers. What do you think about the recent announcement? Would you be interested?