Reuters has withdrawn the story headlined ‘Apple exec dismisses cheaper phone as a market share grab-report’ which was based on a Shanghai Evening News report that was subsequently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.

MacDailyNews cited the same report on Thursday , as did AppleInsider which noted “that Schiller allegedly told the newspaper that Apple is not interested in making a ‘cheap,’ low-profit iPhone. The Next Web had reported that it confirmed with Apple that Schiller’s comments came from an ‘official interview,’ as did the report from Reuters, which is now rescinded.”

“It’s unclear exactly what the ‘substantial changes’ made to the story are,” AppleInsider reports. “As of Friday morning, the original story remains hosted at, claiming that Schiller said Apple will not develop ‘cheap smartphones.'”

Read more in the full article here.

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Apple’s Phil Schiller: Cheap iPhone will ‘never be the future of Apple products’ – January 10, 2013