iPhones to remain premium for now; no cheaper iPhone coming

In his interview to a Chinese newspaper, Phil Schiller, Apple's Marketing Chief, has rubbished all rumours about the company developing a cheaper version of its premium smartphone – the iPhone. In his reply to queries about the latest speculation gathering steam, Schiller told the Shanghai Evening News that the company will not develop a less expensive smartphone just to expand its market share. The Chinese newspaper quoted him as saying, "Originally, many in the Chinese market used feature phones (regular wireless phones). But now a few companies are starting to use cheap smartphones to take the place of feature phones. But this is not a direction that we want to be heading in with our products." Speculations, rumours and endless discussions are characteristic of pre-Apple launches; Apple, however, scarcely replies to them. In this case, though, Apple confirmed that the interview indeed took place. Click here for full story