Silencing rampant rumors about an alleged iPhone ‘mini’ in the works,
Phil Schiller, Apple’s SVP of Global Marketing, said in an interview to a Chinese newspaper that “cheap smart phones will not be developed in order to grab market share away”.
Several analysts and even the Wall Street Journal had speculated in the past few days that Apple may come out with a less-expensive iPhone, following in the footsteps of the iPad mini.
It had earlier seemed that Apple may not want to give up a large segment of users and cede market share to lower end Android and Windows based phones, but Apple clearly don’t want to change their current strategy, which is clearly profitable. Schiller pointed out that though Apple commanded just 20 percent of the Smartphone market, it had 75 percent of the profit.
Well, we can’t argue with that logic now, can we?