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.