Did Apple Just Deny These Exciting iPhone Rumors?

Apple (NASDAQ:AAPL) was not interested in making cheap products, marketing chief Phil Schiller has said in an interview that spills cold water on expectations that the company would launch a low-cost iPhone targeted at emerging markets.

Schiller, speaking with Shanghai Evening News, said that while cheaper smartphones were the most successful devices in the Chinese market, Apple did not need to follow the same route. The executive added that for every product created by Apple, the idea was to use only the “best technology available,” including the production pipeline, the Retina display, and the unibody design.

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“At first, non-smartphones were popular in the Chinese market, now cheap smartphones are more popular and non-smartphones are out,” Schiller said. “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.”

Rumors of a less expensive iPhone projected to arrive this year have been swirling his week. Apple, it’s being said, needs the device to help gain back some of the market share it has lost in emerging markets to cheaper phones running on the Google (NASDAQ:GOOG) Android operating system.

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Apple’s late co-founder Steve Jobs, of course, famously criticized smaller-sized tablets before the company went on to launch the iPad mini last October. Apple confirmed the Schiller interview’s authenticity to The Next Web.

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