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TheStreet Open House

Apple Nixes Cheap iPhone Chatter: Report

Stocks in this article: AAPL

NEW YORK ( TheStreet) -- Tim Cook isn't the only Apple (AAPL) executive making headlines in China at the moment.

Phil Schiller, the tech giant's senior vice president of worldwide marketing, reportedly nixed rumors swirling about a cheaper iPhone in an interview with The Shanghai Evening News.

In a translation obtained by The Next Web, Schiller spoke about the speculation of a cheaper iPhone, saying this will "never be the future of Apple products."

The Apple marketing chief reiterated the company's commitment to building premium products, according to The Next Web's translation.

"Every product that Apple creates, we consider using only the best technology available," he added. "This includes the production pipeline, the Retina display, the unibody design, to provide the best product to the market."

Apple has not yet responded to TheStreet's request to confirm that this was an official interview.

The iPhone maker's shares rose 1.2% to $523.51 at the New York close Thursday.

-- Written by James Rogers in New York.

>To submit a news tip, send an email to: tips@thestreet.com.

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