The headline might as well be "Don't break open the piggy bank just yet.
Rumors of a cheaper i-Phone are not true.
Apple executive Phil Schiller reportedly spoke to the Shanghai Evening News about the buzz of a budget i-Phone.
He said that will quote, "never be the future of Apple's products."
Some reports even suggested the new price would be $99 to $149.
APPLE: Cheaper iPhone rumors just that
Earlier reports said the tech giant was working on a cheaper version to combat slowing sales.
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