Reuters has withdrawn the story headlined ‘Apple exec dismisses cheaper phone as a market share grab-report’ which was based on a Shanghai Evening News report that was subsequently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with Apple that Schiller’s comments came from an ‘official interview,’ as did the report from Reuters, which is now rescinded.”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 jfdaily.com, claiming that Schiller said Apple will not develop ‘cheap smartphones.'”
Read more in the full article here.
Related article:
Apple’s Phil Schiller: Cheap iPhone will ‘never be the future of Apple products’ – January 10, 2013
Come on Gene, will you raise your AAPL price target on this news?
Munster yesterday lowered with AAPL price target on the news of a cheaper iPhone negatively impacting margins.
Why would Reuters’ withdrawal of an article refuting a cheaper iPhone cause Munster to raise his AAPL target?
Bottom line: Schiller was misquoted. There will be a cheaper iPhone, just not a “cheap iPhone.”
Cite your source for thr cheaper iPhone.
The Wall Street Journal and Bloomberg News:
Bloomberg: Apple developing cheaper, smaller iPhone for 2013 holiday release – January 9, 2013
WSJ: Apple prepping less-expensive iPhone – January 8, 2013
The WSJ and Bloomberg used the DigiTimes article as their source.
Conjecture. Where’s your proof of that?
How do you prove a rumor. I first read about from DigiTimes. Then: ““The big story in the land of Apple this week is that it’s working on a cheap iPhone. DigiTimes, the Wall Street Journal, and Bloomberg all says Apple has a less expensive iPhone in the works for this year,” Jay Yarow reports for Business Insider.” BI is a rag as much as DigiTimes.
Otherwise known as the “media echo chamber.” Somebody says something, true or not, then a local news source quotes it, then Reuters reports that this was reported, and NYTimes reports that Reuters and the local news source reported…
Superior : I believe you have the correct take on this situation.
It’s simple…. He is like that assdumb Kerry, he is both for and against it! Lol
Wisdom flows from you…not. Why are you so bitter in your adherence to a specific political paradigm? There is value to be found in many places and many people, if you approach them with an open mind. You will learn more by listening and reading than talking and writing.
It won’t be cheaper. It’s a brand new device that just happens to be more affordable
‘Cheap’ and ‘cheaper’ have negative connotations. I prefer to use the terms ‘inexpensive’ or ‘less expensive’ for quality products.
I’m telling you, they’re going to release an iPhone that’s not a smart phone but a feature phone. Just as we have the iPod touch and the iPod nano – one supports apps, the other has a fixed feature set. Apple is not going to want to put a dent in their cash cow; the current line up of iPhones.
There’s ‘cheap’ and there’s ‘cheap and nasty.’
Apple will not go the latter route, more likely following its iPod strategy, in covering all sections of the market with quality products at various price points.
If there is a company the magnitude of Apple in more disarray right now, I can’t think of its name. Here’s what’s next: big earnings report, AAPL swoons some more, competitors keep piling on, and the once, great company descends some more into the world of ordinary. Worst of all, none of this is going to change under Tim Cook. MDN and all the world of the Apple faithful needs to demand that the ineffective, weak Mr. Cook take the mammoth wealth he has accumulated and step away. Then find an inspired new leader – there must be one out there somewhere – and restart or simply take Mike Dell’s famous advice and put us all out of our misery.
I demand that moron’s like you, with no real insight, or knowledge of the situation stop making this idiotic and spurious claim about Tim.
Apple is doing quite fine. Tune out the din of the shorts and the Fandroids and analyze the facts. Apple is doing FINE under Cook.
Sarcasm^10
PPeterson, please see RIMM,NOKIA,MSFT,SONY,Panasonic and HP just to mention a few that are in worse shape. “Competitors keep piling on”. That’s what competitors do. It’s a cruel world out there. What, other companies are supposed to just let Apple continue to steamroll over everybody? Don’t be silly. Whether you like it or not there is competition for Apple. Just because it’s not Apple doesn’t mean that the competition is evil. Don’t be silly. Other companies exist and would like to make a profit too. Having said that, Samsung does suck. Apple is still a great company. They still make the best stuff. They still have the best margins. But as difficult as it is for many people to accept, Apple in 2013 isn’t the Apple of 2010. It simply could not continue to grow by leaps and bounds. It literally is not possible. Only fools and fanboys believe that to be possible. Everyone else uses common sense. Try to do the same. Steve Jobs and Thomas Edison are dead so let’s just move on. It would be nice if they were still alive but they’re not. They could help their respective companies but they’re dead so they can’t so just move on. Seems that Tim Cook was Steve Jobs choice so he must have impressed the fearless leader. And Steve Jobs didn’t make all the decisions that made Apple so great anyway. Obviously he had many great executives and leaders to help him. Most of those folks are still at Apple. You seem to think that Apple will report bad earnings in a few weeks. In that case I’m sure that you are short Apple and will make boatloads of money. Right? I would if I were certain about the upcoming earnings call. But I’m not certain. But I guess it’s always easier to complain rather than to act. Right? Quit whining about Apple. They don’t need your pity or your help. Quit making excuses for a company that doesn’t know you or give a damn about you. The dog didn’t eat Apple’s homework. They’re just a business trying to compete in a very difficult world. It’s a competitive world out there. Competition makes you better. Apple will survive and maybe thrive if they deserve too. I think they will. But they don’t need people making excuses or feeling sorry for them. Don’t be silly.
Will Schiller be soon in search of a job?
Apple is getting ready to change it’s rules with TelCos to get in bed with China Mobile. Bloomberg is reporting they want revenue from iTunes sales- something Apple has resisted with others.
The truth is Apple is LOSING share in China and has no deal with the largest carrier in the largest market in the world.
Whatever Apple has to do in order to secure a deal with China Mobile, they will do. Schiller can STFU.
Hmmmm ….. In the past Reuters reports from East Asian locations seemed eerily to mirror Samsung’s PR position. Maybe someone messed up and printed a story favorable to Apple? The original Chinese is still there and still is a strong denunciation, reportedly by Schiller, of any imputation that Apple will build cheap smatphones to grab market share. 不会为抢市场推廉价智能手机. It couldn’t be much clearer. Either the Shanghai paper made it up or someone put pressure on Reuters for their own reason
Would someone pick up the phone and call Schiller. There are severe legal ramifications if he lied in the interview. I hope they misquoted him because it’s inevitable Apple needs affordable iPhone solutions including cheap/cheaper/inexpensive iPhones (and iPads) to attain the kind of growth Cook wants to see in China and to rule them out with such definitive statements is nuts.
It’s clear Apple is on a PR offense which flooded the news with affordable iPhone stories and China trip coverages with a mention of China Mobile visit to suggest an imminent deal. I think the intent is clearly to stop the share bloodletting on Wall Street, however the timing is puzzling to say the least.
Why so close to earnings release? My hypothesis stands and that earnings or guidance may be in trouble and Apple wants to soften the blow when they announce them. Why the drumbeats before earnings if everything is rosy? We’ll know on the 23rd.
Talk about foot in mouth.
There will be a “less expensive” iPhone, but I don’t believe we will see it in NA or the EU. It will spook WS, but profits will rise because of it and all will be well. Munster did cut his outlook, but it’s still well over $800, so big desl.
People still pay over two hundred grand for a CL Mercedes Benz, even when the C Class starts closer to 30 grand. And they’re both considered luxury cars.
This is beginning to reek of a move against Apple containing a “mediagate” element. We’ve all seen a substantial stock drop (that does not bother me) and all the rumors, conjectures and theories from the analysts and media about nearly every reasons and influences about it, save for one… preemptive and premeditated stock manipulation.
Normally I would not see this as suspicious but it’s been brought up so many times here by many of those who post at this site. For all that though, I haven’t seen a single media story following up on this possibility.
The withdrawal of some media about this story seems suspicious, especially when you try to find the original source. It is said that the original story is hosted at jfdaily.com interestingly enough with no link provided to it.
As it turns out http://www.jfdaily.com/ is a Chinese newspaper but trying “Schiller” in the search engine it appears that the latest article with the word “Schiller” in it was from 2011.
So where is the original article (even if it’s in Chinese)?
It just doesn’t feel right.