Is Apple targeting the entry-level market with its iPhone lineup? That's highly likely, based on Reuters' report of Apple giving the green light for the production of an 8GB variant of the iPhone 4. Currently, the iPhone 4 only comes in 16GB and 32GB versions, which starts from S$888 in Singapore.
The use of a smaller flash drive should push its overall prices down. But further to that, Apple has typically reduced the pricing of its previous generation devices. Most notably, when the iPad 2 was launched, the iPad 1 was given a price slash before its successor was made available in Singapore. Given the situation, it's highly likely that the 8GB iPhone 4 will be launched in conjunction with Apple's next generation iPhone 5 (otherwise also known as iPhone 4S).
Question is: will the cheaper 8GB iPhone 4 be made available in a market dominated by high-end smartphones, such as Singapore? We aren't ruling out the possibility, but one thing's for sure: when the iPhone 5 is launched, we should be on the list. However, judging from the previous iPhone launches, the Singapore market should probably get it around two months after the rumored end-September launch of the iPhone.