So, what can it be? The speculation is that Apple could be considering adding pico projectors to the iPhones but I higher doubt that Apple would consider registering a domain name just for a specific feature.
There are two possibilities.
One is that Apple may be refreshing the iPod line with an entirely new product. Pico, by definition, is smaller than a nano. I don't know if Apple is going to shrink the nano even more. It just doesn't seem possible but I want to throw this out there to cover the basis.
The other like possibility is that this pico could be a new iPhone. The iPhone pico. Apple could just as well call it the iPhone nano but I wouldn't put it past Apple to just screw with the media and bloggers. The pico may well be the less expensive iPhone to go after the lower end of the smartphone market.
Just yesterday, Apple executives affirmed that they are indeed going to address that segment of the market as well as the pre-paid mobile market but won't do it unless they can enter the market with an "innovative, category-killer experience". This is just me putting two and two together.
But if you're an Apple watcher like I am, two plus two rarely equals four for the iPhone maker. The fact that Apple registered the name now does seem to indicate that Apple is closer to releasing this pico product, a diminutive iPhone if I'm right or another product if I'm wrong.
We'll know in a couple of weeks whether this leads anywhere. And it's entirely possible that Apple did this just to screw with us with a series of updates to its product lines coming up in a matter of weeks