Consider the fact that people with newer devices with the latest apps.

Also consider the supply side of the equation. If it will take you twice as 
much engineering effort to go backwards compatible to 2.x, then the 
decision is a no brainer.

And remember that development is just a small part of the effort. Code 
maintenance, testing, tech support, and marketing efforts are part of the 
equation.

If starting from scratch today, supporting only 4.0+ makes a lot of sense.

Nathan

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