There’s no doubt that the iPhone had an incredibly successful launch, and that Apple seems to be on the way to another winner. But, according to Kevin Chang, an analyst at JPMorgan, Apple might be on the way to introducing a cheaper phone with similarities to its iPod nano. He’s drawn his conclusions from a patent filed by Apple last week that refers to a handheld device that’s multifunctional with a circular touch pad control, sounding very similar to the Nano.