According to Chinese-language Economic Daily News a chip manufacturer is going to receive microchip orders from Apple sometime in March which must mean that we should see an iPhone Nano sometime around June. Right? It must. Maybe.

Will the iPhone Nano be a lower-cost alternative? Or will it be a premium, small product? If Apple wanted a lower cost iPhone, the company could simply lower the cost on the profit-heavy current iPhone cries the Internet Gurus. Unless, that is, the price is locked into a contract with AT&T or there is a whole new lineup coming.

So, if there is an iPhone Nano coming in June and it’s going to a be low cost model, it only makes sense that Apple will then launch a higher memory and more powerful full-size iPhone at the same time. That way the company would be able to market one as inexpensive and the other as full featured without taking anything away from the current hot-selling iPhone 3G.

Then again, this is just a f’n rumor from a Chinese news source. Probably not a good idea to hold your breath.