There seems to be a lot of buzz about the possibility of a low-cost iPhone recently. When asked about the chances of it happening, Apple Marketing Chief Phil Schiller said that the Cupertino California company is not interested in making cheap, low-profit products. The comments, which were originally made to the Shanghai Evening News, are not a guarantee of what’s to come. If you look in the past, the company famously denied the effectiveness of a smaller, less expensive tablet before releasing the iPad mini last October.
Schiller’s interview, which was confirmed by Apple to The Next Web, came in response to recent reports claiming that the Cupertino California company wants to release a cheaper contract-free iPhone this year. The said device was mentioned to be geared towards emerging markets such as China, which Schiller visited this week along with Apple CEO Tim Cook.
According to Schiller, basic “feature” phones were initially popular in the Chinese market, while “cheap” smartphones are currently the most successful. He specifically pointed out that Apple wouldn’t be going down the same path though. Schiller said the following regarding the matter:
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 percent, we own 75 percent of the profit.
Source: Shanghai Evenings News, The Next Web