The Verge has reported that there will be a cheaper version of the 5th generation iPod Touch. It will be 16GB, a 4-inch Retina display, and an A5 processor chip. The phone comes in only black and silver. The only absent from the 16GB version that is present in the 32GB and 64GB versions is the rear facing camera. The newest in a line that has moved 100 million units since 2007 is currently available on the Apple store at $229 which is a pretty good deal. If you’re looking for cheaper but same general product, there’s the iPod Nano at $149.