The 3G iPhone could arrive in the UK in July, costing as little as 100, according to reports.
Steve Jobs is expected to unveil the phone at Apple's Worldwide Developers' Conference on 9 June, with The Times reporting a UK release slated for some time in July.
If the report proves accurate, it represents a marked shift in attitude for Apple, which left Britons waiting five months for the original to hit these shores.
As part of a new strategy aimed at boosting sales, various sources are also claiming Apple will allow operators to subsidise the device, which could see the price tumble from the original 269 to just 100.
In other parts of Europe the prices could even fall lower, though this is unlikely in the UK due to Apple's exclusive multi-year contract with O2.
The Cupertino-based company has set itself an ambitious aim of selling 10 million iPhones globally by the end of this year, and any price reduction could be seen as a way of propelling the company towards the goal.
Apple said it is not commenting on the story.
