Sure, it's an iPod Touch, which isn't the most exciting new product Apple (NASDAQ:AAPL), could release. A new, cheaper iPod may not seem of particular importance in the grand scheme of Apple's product mix, but the lower price tag may be the sign of a growing trend in Cupertino. If this proves true, it has particular ramifications for Apple's future.

In the video below, contributor Doug Ehrman discusses the specifics of the new product and what its introduction may mean for Apple over the long term.

Fool contributor Doug Ehrman has no position in any stocks mentioned. The Motley Fool recommends Apple. The Motley Fool owns shares of Apple. 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.