UK newspaper the Daily Mail has posted that a “nano” version of the iPhone could be shipping in time for Christmas.

The newspaper offers very few details on the device itself although notes that the iPhone nano could be released at a £150 ($300) price point to pay-as-you-go customers.

The product will be launched in the UK at up to £150 for pay-as-you-go customers by O2, the mobile phone group owned by Spain’s Telefonica. ‘This will be a big one,’ said an industry source