Reuters Rescinds Smartphone Rumor Report

In a move you certainly don’t see every day, Reuters is rescinding a recent story asserting that Apple will soon release a cheaper iPhone for emerging markets.

On Friday morning, Reuters reported the exact opposite of what the newswires had released just days earlier.

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.

“Originally, many in the Chinese market used feature phones (regular wireless phones). But now a few companies are starting to use cheap smartphones to take the place of feature phones,” Schiller was quoted as saying in the Chinese media. “But this is not a direction that we want to be heading in with our products.”

In light of the fact that Apple rarely discusses rumors in public, there’s an excellent chance that the company really means business when it says there are no plans for a cheaper iPhone at this time.