The reports are hot that Apple is gearing up for summer release of its feature-lite $99 iPhone, which has put tech analysts on work. Yes, tech analysts have already started to assess how the phone is going to make its impact on the mobile and music market.

According to analysts, Apple’s feature-lite $99 iPhone will definitely make significant impact on the market; the major reason for that is its cheaper price. It’s going to be an affordable device.

The important question is “what actually consumers will get in Apple’s feature-lite $99 iPhone?” Well, the analysts say, consumers will be winners in buying Apple’s $99 iPhone.

The analysts reckon that the Apple’s cheaper iPhone will retain all the basic features including iPhone operating system, the multitouch screen, the music player, but it’ll not have the 3G and GPS radios. It will retain the same 480x320 touchscreen and same general form, but it could have a better camera, because iPhone's camera has been often ridiculed. Overall, there will be minor cosmetic changes in the phone.

The analysts feel that $99 iPhone will make substantial impact in the music device market. It will be smart alternative to a dedicated MP3 player. For instance, Shuffle that costs just $20 less lacks the attractive features of iPhone. Thus, the phone may attract more buyers than that of dedicated MP3 players. It could be strong rival to the phones like Sony Ericsson W350 and other music phones from AT&T and T-Mobile, such as the Nokia 5310, the Nokia 7510, and Nokia 5610. However, it may also hit the Apple iPod.