IPhone Nano Expected For Holidays

London, UK (AHN) - Apple is preparing to launch an iPhone Nano for the holiday shopping season, a report said Sunday.

Citing an unidentified 'industry source,' the London-based Daily Mail reported the device will cost $296 and be aimed at the prepaid cellular market.

The report said U.K. carrier 02 would launch the phone and that it will arrive on shelves months after Apple began selling the iPhone 3G, a next-generation device that arrived at a lower price and sporting wider worldwide distribution.