An update to the cheap iPhone rumours. Jessica Lessin of the Wall Street Journal initially published a report stating that Apple was working on a cheaper iPhone. Reuters published a story refuting those rumours, which used the Shanghai Evening News as a source:
Apple Inc. will not resort to a cheaper iPhone to expand its market share, marketing chief Phil Schiller told a Chinese newspaper in an interview when asked about speculation the company is developing a less expensive version of its popular smartphone.
Schiller pointed out that though Apple commanded just 20 percent of the smartphone market, it had 75 percent of the profit, according to an interview he gave the Shanghai Evening News.
So, that’s that, then? Not quite:
Reuters issued an update Friday morning informing readers that it had withdrawn the story, which featured the headline “Apple exec dismisses cheaper iPhone as a market share grab — report.” It was based on a report from the Shanghai Evening News, but that original story was later updated with “substantial changes to its content,” which prompted the significant retraction.