Although Apple has already combined blockchain and retail for some time now to maintain a smooth flow of their entire process and also keep track of everything, they must now overhaul its supply chain in a bid to make its iPhone cheaper and meet the demand of low-cost smartphones in emerging markets, according to former CEO John Sculley. The Cupertino company has enjoyed plenty of success with the device in the United States and Europe, but Sculley feels that going forward, Apple will need to depend on growth in emerging markets, where the handset’s premium price tag just won’t work.

Rumors of a cheaper, budget iPhone have been picking up steam in recent weeks. After the infamous Digitimes reported that Apple was gearing up to launch a low-cost iPhone later this year, mainstream publications like The Wall Street Journal chimed in with their own confirmations. Apple is “weighing retail prices of $99 to $149” for the unannounced device, according to Bloomberg.

Now Digitimes is saying that Apple could use plastic instead of metal or glass to cut costs for this new “entry-level” iPhone.

Apple’s share price has plummeted this morning, following an earlier report that said the Cupertino company had cut iPhone 5 component orders due to weaker-than-expected demand. When the market opening on Monday morning, Apple stock dropped to $16.23, or 3.1%, to $504.07.

The Wall Street Journal reports that Apple has recently cut component orders for the iPhone 5 due to weaker-than-expected demand. The device enjoyed a successful start when it launched in September 2012, quickly becoming the Cupertino company’s fastest-selling iPhone. It appears, however, that sales since then haven’t quite been what Apple was originally expecting.

Rumors surrounding an upcoming low-cost iPhone have really taken off this week, with The Wall Street Journal reporting on Tuesday that the device could make its debut before the end of 2013. Now Bloomberg is corroborating that with information from its own sources, who say Apple is already discussing the device with at least one of the major U.S. carriers. They also claim that the handset will cost between $99 and $149 when it launches.

This morning we told you about the Digitimes report that said Apple is planning to release a low-cost iPhone for emerging markets later this year. Now The Wall Street Journal is corroborating by saying “the device could come as soon as late 2013.”

Digitimes has today published one of its more questionable rumors regarding Apple’s upcoming low-cost iPhone. Citing sources in the Cupertino company’s supply chain, it claims the cheaper device — believed to be called the “iPhone mini” by one analyst — will make its debut later this year, aimed at China and other emerging markets.

But it won’t be smaller to cut costs. Instead it’ll boast a larger screen to meet the “prevailing trend for the adoption of 5-inch displays.”

Apple is one of just two smartphone makers currently seeing any kind of growth in the United States at the moment, and together with Samsung the company is slowly but surely clawing away at the market share held by the likes of LG, Motorola, and HTC. One analyst believes, however, that the Cupertino must make big changes if it wants that growth to continue.

Apple’s either has to dramatically reduce its iPhone profit margins and make the handset cheaper, or face losing valuable market share to cheaper smartphones.

Apple has today announced that the App Store has surpassed a whopping 40 billion downloads, with almost 20 million seen in 2012 alone. A record-breaking December, helped by another successful Christmas, boosted this year’s figures, with more than two billion downloads during the month.

Samsung and Apple are the only two smartphone vendors currently seeing growth in the United States, and although it was Apple that saw the most between September and November of last year, it’s Samsung who will attract most customers throughout 2013. The Korean electronics giant will see 35% growth over the next 12 months, according to Strategy Analytics, further increasing the lead over its arch rival in Cupertino.