Phil Schiller  has given an interview to Chinese media  in which he nixes  the idea of cheaper iPhones . Or did he? Apple 's SVP of Marketing made the remarks during an Q&A session with the Shanghai Evening News, where he said this.
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."
There. From the horse's mouth, so to speak. However, does Schiller actually mean no lower-priced version of the iPhone period, full stop, point final, or does he mean there will be no crappy, second-rate versions? Consider the iPad Mini . It's a fistful of greenbacks cheaper than the full-sized version, it is lacking the Retina  display of the latest version of its bigger brother , but it is still a premium product compared to other seven-inch tablets in the market. Is that what you mean, Phil?
[Image via Flickr user Yutaka Tsutano ]