Apple exec dismisses cheaper iPhone
Apple Inc will not resort to a cheaper iPhone to expand its market share, marketing chief Phil Schiller told a Chinese newspaper in an interview when asked about speculation the company is developing a less expensive version of its popular smartphone.
Schiller pointed out that though Apple commanded just 20 percent of the smartphone market, it had 75 percent of the profit, according to an interview he gave the Shanghai Evening News.
The Shanghai Evening News, paraphrasing Schiller's comments, cited the Apple executive as saying the company will not develop a cheap smartphone for the sake of expanding its market share.
Apple confirmed the interview had taken place, but had no further comment for now.