France Telecom CEO Stephane Richard says that budget smartphone buyers are threatening sales of Apple’s pricey iPhone. Consumers are becoming more frugal due to the state of the economy, particularly in Europe, Richard told Bloomberg Businessweek, and so they’re turning to cheaper options when it’s time to get a new cellphone.
Phil Schiller, Apple’s senior vice president of worldwide marketing, reportedly shot down suggestions that the Cupertino company will launch a low-cost iPhone later this year during an interview with a Chinese newspaper earlier this week. According to the report, Schiller said that the budget devices will “never be the future of Apple products.”
Reuters was one of the first media outlets to cover the report, but in an interesting move, it has this morning pulled its piece after “substantial changes” were made to the original article. Could this mean Schiller didn’t really say those things?