Apple is possibly looking into a cheaper iPhone, and Bloomberg believes Apple is considering a price range between $99 to $149 for a handset that would hit the market in late 2013. An unnamed source told Bloomberg that Apple has spoken with least one of the giant U.S. wireless carriers about its plans for a less-expensive iPhone. Although, Bloomberg didn’t make it clear whether the price it states includes carrier subsidies.

Apple’s reasoning for moving forward with a cheaper iPhone would be to target customers in emerging markets, according to Bloomberg. The cheaper Apple handset would allow the Cupertino, Calif.-based corporation to compete with smartphone manufacturer leader Samsung, which runs Google’s Android platform. According to IDC, Android has a 75 percent market share of smartphone shipments as of Q3 2012, while Apple has 15 percent.

China, one of the biggest emerging markets, is currently a focal point for Apple. In September 2012 during the company’s Q4 2012 earnings call, Apple CEO Tim Cook said China accounted for 15 percent of Apple’s total sales, generating $5.7 billion for the quarter and $23.8 billion for the year.