Apple confirms it will never make a cheap iPhone

Apple has confirmed that it will never make a cheap iPhone.

Speaking at Recode's Code/Mobile conference, Apple product marketing executive Greg Joswiak delivered the bad news that Apple has no intention of chasing the budget market to compete with low-cost Android devices, dismissing speculation that the firm might one day release an affordable iPhone.

Joswiak said: "We were talking about some of the mistakes Apple made in the '90s, and some of it was trying to do things like making cheap products that were chasing market share instead of chasing a better experience. "You make that mistake once in your life, you're not going to make it twice."