Join        Login             Stock Quote

Apple denies cheap iPhone reports

Friday, January 11, 2013 2:52 PM

SHANGHAI, Jan. 11 (UPI) -- Apple says reports in The Wall Street Journal and other publications of a possible lower-cost iPhone are incorrect.

The Journal had quoted sources suggesting Apple could introduce a less-expensive iPhone before the end of the year.

Phil Schiller, Apple's senior vice president of worldwide marketing, said in an interview with a Chinese newspaper in Shanghai that inexpensive iPhones would "never be the future of Apple products," InformationWeek reported Friday.

Sources had reported Apple might switch from the aluminum frame used in the iPhone 5 to plastic, creating a phone that would be cheaper to manufacture.

Although Schiller's remarks may have silenced speculation for the moment, Apple has admitted some of its products -- like the iPad Mini that is priced $100 more than its closest competitors -- have thin profit margins.

The sources cited in the reports of a possible new phone may have seen products still in the research and design phase that could be years from production -- if they're ever actually introduced -- InformationWeek said.

(Source: UPI )
(Source: Quotemedia)


Fundamental data is provided by Zacks Investment Research, and Commentary, news and Press Releases provided by YellowBrix and Quotemedia.
All information provided "as is" for informational purposes only, not intended for trading purposes or advice. iStockAnalyst.com is not an investment adviser and does not provide, endorse or review any information or data contained herein.
The blog articles are opinions by respective blogger. By using this site you are agreeing to terms and conditions posted on respective bloggers' website.
The postings/comments on the site may or may not be from reliable sources. Neither iStockAnalyst nor any of its independent providers is liable for any informational errors, incompleteness, or delays, or for any actions taken in reliance on information contained herein. You are solely responsible for the investment decisions made by you and the consequences resulting therefrom. By accessing the iStockAnalyst.com site, you agree not to redistribute the information found therein.
The sector scan is based on 15-30 minutes delayed data. The Pattern scan is based on EOD data.