Rumors are circulating that Apple plans to counter Samsung’s ever-increasing control over the smartphone market by releasing a petite version of the iPhone, dubbed by pundits the iPhone mini. Could a ‘Honey I shrunk the iPhone’ version of the smartphone be the next big think to come out of Cupertino?

While it might seem like Apple has a tight grip over the smartphone market with the iPhone, Samsung is a bigger player. During 2013 Samsung smartphone sales are predicted to grow 35 percent, from 215 million last year to 290 million. In contrast, Apple sales are tipped to grow by 33 percent, to 180 million.

This shift means that Samsung will command 33 percent of the smartphone market, compared to Apple's 21 percent.

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