Just a few days back, I had mentioned in one of my posts that Apple was working on cheaper phones and it could be launched later in 2013. But now, it seems Apple has no such plans. Recently in  a Chinese-Language Daily, the Shanghai Evening News, it was confirmed by Phil Schiller that Apple has no such plans to launch cheap iPhones to target Asian market. Phil Schiller is the AppleSenior Vice President of Worldwide Marketing. Below is what he quoted -
"At first, non-smartphones were popular in the Chinese market, now cheap smartphones are more popular and non-smartphones are out. "Despite the popularity of cheap smartphones, this will never be the future of Apple's products. In fact, although Apple's market share of smartphones is just about 20 percent, we own the 75 percent of the profit."
Phil also made it clear that cheaper phones could severely affect Apple's industry-leading profit margins.

Well, I am unhappy over what Phil has said. I think we will have to wait for long before we can see more affordable cheaper Apple phones especially in the Asian market !