While Apple (NASDAQ:AAPL) is well-known for going its own way, it should not come as a surprise that the company has finally decided to release an iPhone with a much lower starting price, according to The Wall Street Journal. Not only will this move allow the company to finally compete in the emerging markets in a far more meaningful way, it will give the company the potential to attract a new base of customers at home.

In the following video, Fool.com contributor Doug Ehrman discusses the development and some of the potential it represents for Cupertino.

Fool contributor Doug Ehrman has no position in any stocks mentioned. The Motley Fool recommends Apple and Google. The Motley Fool owns shares of Apple and Google. Try any of our Foolish newsletter services free for 30 days. We Fools may not all hold the same opinions, but we all believe that considering a diverse range of insights makes us better investors. The Motley Fool has a disclosure policy.