Apple (AAPL) May Actually Produce Cheaper iPhone Following Schiller Misquote
Apple (Nasdaq: AAPL) will never make a cheap iPhone.
Except, it might very well happen.
Rumors of Apple producing a low-cost iPhone were circulating recently, pressuring shares as investors though Apple would now sacrifice quality for market share. The stock got a little bounce when marketing chief Phil Schiller said Apple would "never produce such a product." But, were Schiller's comments lost in translation?
According to Reuters, that might very well be the case. Shanghai Evening News, which quoted the executive last week, issued a revision to "more accurately" express what Schiller was trying to get across.
Schiller's new comment: "Apple has always focused on providing the best products for its consumers, we've never blindly chased market share."
In this case, the best products for those with low incomes might be a lower-cost smartphone.
Shares of Apple are down 3.6 percent today.
Except, it might very well happen.
Rumors of Apple producing a low-cost iPhone were circulating recently, pressuring shares as investors though Apple would now sacrifice quality for market share. The stock got a little bounce when marketing chief Phil Schiller said Apple would "never produce such a product." But, were Schiller's comments lost in translation?
According to Reuters, that might very well be the case. Shanghai Evening News, which quoted the executive last week, issued a revision to "more accurately" express what Schiller was trying to get across.
Schiller's new comment: "Apple has always focused on providing the best products for its consumers, we've never blindly chased market share."
In this case, the best products for those with low incomes might be a lower-cost smartphone.
Shares of Apple are down 3.6 percent today.