Reuters rescinds cheaper iPhone story

Yesterday, Reuters quoted an interview that the Shanghai Evening News conducted with Apple’s Phil Schiller, in which he reportedly shot down the rumor of a cheaper iPhone. Early Friday morning, Reuters has pulled that story, noting that the “Shanghai Evening News report [was] subsequently updated with substantial changes to its content.” The updated post ends with a terse “No replacement story will be issued.”

This story just got a little weird. And I was hoping the rumors would go away.

Phil Schiller: no cheap Apple iPhone [Updated]

Speaking with the Shanghai Evening News in an official interview yesterday, Apple’s Phil Schiller shot down the rumor of a cheaper iPhone:

“Despite the popularity of cheap smartphones, this will never be the future of Apple’s products. In fact, although Apple’s market share of smartphones is just about 20%, we own the 75% of the profit.”

There you have it. Now go away, cheap iPhone rumors.

[Via The Next Web]

Update: Not so fast.

The iPad mini’s sales potential

Phil Schiller discusses the iPad mini’s price with Reuters:

 “‘The iPad is far and away the most successful product in its category. The most affordable product we’ve made so far was $399 and people were choosing that over those devices,’ Schiller said.”

Exactly. Consumers have chosen the $499 iPad over the $199 Kindle Fire in droves. What do you think is going to happen now that the iPad is $329? Apple will sell tons of them.

The iPad mini isn’t an overpriced tablet, it’s the most inexpensive iPad you can buy.