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A 'Cheaper' iPhone: Absolutely Awful News for Apple

But, forget everybody else, on its own, the idea that Apple would use, as the WSJ calls it -- "a . . . less expensive body" with "a . . . shell made of polycarbonate plastic" for a "cheaper" iPhone, not the "aluminum housing" deployed for iPhone 5 should scare the hell out of you. It does me. That's something Steve Ballmer would do (just play with a Surface tablet at your local -- empty -- Microsoft retail store).

Even if "iPhone mini" follows "iPad mini" and hits market with quality parts, high-end construction and a premium price, I'm still scared. These are tweaks your neighbor could come up with -- you can get away with that only so many times.

This story, which is potentially a non-story, will develop. As such, we'll all have more to say.

At this point, I simply don't believe the details of the WSJ story. In fact, the whole thing sounds fishy, especially coming on the heels of the multi-colored iPhone rumor.

Tim Cook is not Steve Jobs, but he sure as heck isn't stupid.

--Written by Rocco Pendola in Santa Monica, Calif.

Stock quotes in this article: AAPL, GOOG, MSFT, AMZN 
Rocco Pendola is TheStreet's Director of Social Media. Pendola's daily contributions to TheStreet frequently appear on CNBC and at various top online properties, such as Forbes.

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