In December, Apple (NASDAQ:
) enthusiasts could not stop talking about the so-called iPhone 5S.
This month their attention has turned to concepts for the illusive
iPhone Mini, as well as the low-cost iPhone. Both products could
feasibly allow the Mac maker to increase its global market share in
the growing smartphone industry. Despite a plethora of hype for
these products, however (including a report from
The Wall Street Journal
, one of the more reliable sources for new iDevices), Apple has
reportedly denied the existence of a "cheap" iPhone.
One day later, the company unofficially confirmed its
The denial came after
decided to publish a story titled, "Apple exec dismisses cheaper
phone as a market share grab-report." Reuters quoted Phil Schiller,
Apple's Senior VP of Worldwide Marketing, who reportedly told the
Shanghai Evening News that the company would not build a cheaper
The Next Web
later announced that it had verified that this was an "official"
interview with Apple.
is reporting that Reuters has withdrawn the story. This is a common
practice employed by news organizations when a story contains
factual errors. The
did the same after Google's (NASDAQ:
) acquisition of ICOA proved to be a hoax.
Reuters has replaced the
with the following message:
"Reuters has withdrawn the story headlined 'Apple exec dismisses
cheaper phone as a market share grab-report' which was based on a
Shanghai Evening News report that was subsequently updated with
substantial changes to its content.
"No replacement story will be issued."
While it is unclear if Apple or some other source provided the
Shanghai Evening News with the "substantial changes" that inspired
Reuters to withdraw its story and walk away from the topic, this is
a strong sign that Apple is developing a lower-cost smartphone.
Historically, Apple rumors go untouched. Analysts, bloggers and
consumers spend countless hours writing about the products the
company might release next. Those stories -- no matter how
outrageous -- are never withdrawn. However, the moment Reuters
quotes an Apple executive who reportedly stated that the firm will
not develop a particular product, the story is removed.
Either someone wants to keep the rumor mill going or Apple is
making a cheap iPhone.
(c) 2013 Benzinga.com. Benzinga does not provide investment advice.
All rights reserved.
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