Clearly the iPhone is a phenomenal success, so it begs the question of what Apple will do to keep the iconic device in the top spot as king of the smartphones. The answer: lower the price, add more functionality, expand access overseas and pack any future models with software that has a wow-factor.

This roadmap for where the iPhone is headed comes from applied technology analyst Yair Reiner of Oppenheimer & Co., who told InternetNews.com that's what top Apple (NASDAQ: AAPL) executives, including CFO Peter Oppenheimer, relayed to him during a recent meeting.

"There's a lot of room to grow market share, and Apple says the way to do that is by adding value in a number of ways. One is by lowering prices. Then, by adding more functionality. They've always used a combination of these two levers in their portfolio. And there's more runway in terms of geographical extension, and by that, I think they're passively acknowledging that China, with its population, might be a good target," said Reiner.

In terms of segmenting the market by coming out with different models, he said Apple was tight-lipped on any details, but did offer some insight on the future of the product line.

Get the full story here at InternetNews.com.