Apple shares rise as new iPhone may be due this summer

Apple shares rose 0.5 percent in trading yesterday after media reports indicated that the company may be releasing a refreshed iPhone within the next three months and are working on a cheaper iPhone model.

The shared rose to $432.29 at 8.35am in New York.

The Wall Street Journal have said this week that the new iPhone will be similar in size and shape to the current model, saying they spoke with people close to production.

Apple are continuing to work with manufacturing partners in ASIA on a less expensive iPhone that may be launched in Q3-Q4 this year.

There is no doubt that Samsung are causing serious problems for Apple, especially as they release quality devices in all price sectors. They are planning to sell their new Galaxy S4 in the second quarter and they are gaining in market share this year.

Samsung's global market shipments for handsets rose to 25 percent last year, from 21 percent the year previous. Apple rose to 8.6 percent, from 6 percent the year previous.

Kitguru says: The battle is heating up this year.

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