Apple’s Distributor To Home In on Prepaid Markets With iPhone 3G S

Apple has inked a deal with a global distributor as the tech giant seeks to inundate developing and prepaid markets with the iPhone 3G S, a financial analyst wrote Monday.

Jeffries equity analyst Peter Misek also believes the price of the phone will be lowered from $375 to $250-$300.

“The distributor is tasked with penetrating the prepaid markets around the world as well as expanding channels for the iPhone 3GS in the developing world,” Misek wrote. “We view this as a positive event given that consensus believes in an iPhone gap till the iPhone 5 launch.”

Apple is expected to release a new smartphone later this year in what is often referred to as the “iPhone 5,” although the timeline for an announcement and the actual name of the device haven’t been confirmed.