For those who were taken aback by a $499 minimum price point for the new Apple iPhone, and are still recovering from sticker shock, some analysts may have what you need to hear to perk you back up.

iPod NanoTo date, Apple’s most successful iPod was not their flagship original model (originally priced at $399 for a 5GB model, and $499 for a 10GB model,) nor any of its’ 4 generations afterwards. Rather, it was the little brother, the iPod Nano, who stole the hearts of gadget-goers and music-lovers the world over. Was it his itty-bitty size and potableness, or his less daunting price point? More importantly, what does this have to do with the upcoming iPhone?

Reuters had this to say about the possibility of a cheaper “low-end” iPhone in the future:

Apple could… follow a similar model with the iPhone that it did with the iPod: Start off with what may seem a steep price, but drop prices as component costs fall and volume production economics kick in, all the while adding more functions and services.

While the idea of waiting a little longer for an iPhone may seem incorrigible to some, it may be the wise thing to do, not only for your wallet, but for any new features you’ll look back and sigh that you didn’t get. Only time will tell.