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Apple executive dismisses cheap iPhone, Boy Genius Report says

Apple (AAPL) SVP of worldwide marketing, Phil Schiller, says that cheap smartphones will "never be the future of Apple products," the Boy Genius Report says, citing comments from an interview with the Shanghai Evening News. BGR notes that Schiller never explicitly rules out selling a cheaper version of the iPhone, but says it wouldl probably not sell for the "bargain bin prices we've heard about through rumors."