Following numerous reports, including one led by Wall Street Journal, pointing at the possibility of Apple working on an "iPhone mini," Apple's executive and head of global marketing Phil Schiller stepped in to quash the rumor. With comments to the Shanghai Evening News, as translated and confirmed by The Next Web, Schiller said that cheap smartphones will never be the future of Apple's products. Due to the popularity of cheap smartphone, Apple will need to make adjustments to its product development process and marketing strategy in order to keep up with smartphone markets.
"Every product that Apple creates, we consider using only the best technology available. This includes the production pipeline, the Retina display, the unibody design, to provide the best product to the market. At first, non-smartphones were popular in the Chinese market, now cheap smartphones are more popular and non-smartphones are out. Despite the popularity of cheap smartphones, this will never be the future of Apple's products. In fact, although Apple's market share of smartphones is just about 20%, we own the 75% of the profit," said Phil Schiller.