Just last month, China zipped past the United States to become the world’s top market for smart devices. That news was recently tallied by data-tracking firm Flurry.

By the end of this month, the company projects that there will be 246 million iOS and Android devices in China, compared to 230 million in the United States. In the past year, China has added 150 million new devices, compared to only 55 million in the U.S.

And the two countries are far and away leaders of tablet and smartphone usage. The United Kingdom is in third place with 43 million devices while fourth place South Korea has 30 million active devices.

If the rumors are correct, Apple is looking to increase its market share in the ever important Chinese market with the introduction of a lower priced “iPhone mini.” The new handset would cost somewhere between $250 and $300, much cheaper than an unlocked 16GB iPhone 5, which is $649.

To meet the lower price point, the handset would be made of more affordable components, like a plastic chassis, instead of the anodized aluminum of the iPhone 5

The inexpensive iPhone is one of three models that may be released in 2013.