Apple denies developing a cheaper iPhone

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“That’s not the direction in which we want to direct our products,” said Phil Schiller, director of marketing for the company

Apple denies developing a cheaper iPhone

Phil Schiller, Apple’s vice president, presented the new iPhone 5 at the Yerba Buena Center in San

Apple will not resort to an iPhone cheaper to expand its market share, as stated by the marketing manager of the company, Phil Schiller , in a Chinese newspaper. With this statement, the Cupertino company has denied the publications of the last days in which there was speculation about developing an iPhone ‘low cost’ of between 99 and 149 dollars.

The manager said that although Apple is responsible for only 20% of the market for smartphones, owns 75% of the profits, according to an interview with the Evening News in Shanghai. The Evening News in Shanghai, paraphrasing Schiller’s comments, said that the Apple executive denied the company plans on developing a ‘smartphone’ cheaper to expand its market share.

Apple confirmed that the interview had taken place but declined to comment further at this time. “At first, the Chinese market used regular feature phones (cordless phones). But now some companies are beginning to use smartphones to relieve cheaper feature phones,” Schiller said in his first interview with a Chinese newspaper. “But this is not the direction in which we want to direct our products,” the report quoted Schiller in Chinese.

Apple rarely comments on rumors that arise in the industry about its upcoming products. This week, various media, including the newspaper  The Wall Street Journal quoted unnamed sources saying that Apple could release a cheaper iPhone this year. China would be the market in which a ‘smartphone’ budget would have a greater effect. This country is the second largest market for Apple and is an area of intense focus for the U.S. manufacturer, because trying to maintain a high growth rate.

The CEO of the company Apple, Tim Cook , traveled to China this week, meeting with partners and government officials. On Thursday, he called the president of the largest mobile operator in the country, China Mobile, raising hopes that an agreement between the two takes place. In an interview with the official Xinhua news agency, Cook said he hoped that one day China will become the largest single market for the company.

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