APPLE: Cheaper iPhone rumors just that

Earlier reports said the tech giant was working on a cheaper version to combat slowing sales.

Published On: Jan 11 2013 03:11:20 AM EST

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.