Apple Executive Smashes Low-Cost IPhone Rumor

Posted: Jan 11 2013, 7:38am CST | by , Updated: Jan 11 2013, 1:54pm CST, in News | Apple

Apple Executive Smashes Low-Cost iPhone Rumor

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This is rare. Apple is officially talking about an Apple rumor.

As reported serveral outlets including the WSJ have carried a rumor that Apple will release a low-cost iPhone for emerging markets this year. Now Reuters reports that Apple Marketing Chief Phil Schiller told the Shanghai Evening News that this rumor is not true.

Schiller argues that Apple has just 20% of the smartphone market, but makes 75% of the profit. He said that expanding market share with a low-cost iPhone is not Apple's plan.

So there you have it. No cheap iPhone is coming for emerging market. I did not think so anyway. Apple will though release a new iPhone that will be different from the iPhone 5. Apple needs to somehow tackle Samsung's large screen hot-selling Galaxy S III phones.

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<a href="/latest_stories/all/all/2" rel="author">Luigi Lugmayr</a>
Luigi Lugmayr () is the founding chief Editor of I4U News and brings over 15 years experience in the technology field to the ever evolving and exciting world of gadgets. He started I4U News back in 2000 and evolved it into vibrant technology magazine.
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