Whilst rival firms continue to showcase an array of budget smartphones at this year's CES event, Apple has dismissed claims it is working on an entry-level iPhone.
Earlier rumours suggested that Apple was developing a cheaper version of its flagship handset in order to cut into the budget market as it worked to increase its presence within the Chinese market.
However, the firm's senior Vice President of worldwide marketing, Phil Schiller, has dispelled such rumours, stating that Apple is not working on a new budget device.
Schiller confirmed to Chinese publication Shanghai Evening News that a budget iPhone is not part of Apple's immediate plans, moving on to state that market share is not the company's primary concern.
Whilst it may not be Apple's primary concern, it's no doubt a major concern for the firm, which now holds a 21 per cent share of global smartphone shipments, lacking behind its closest rival Samsung, which continues to sit pretty with its 33 per cent share.
Schiller emphasised that rather than producing a number of different versions of its highest-selling product in order to gain market share, Apple remains focused on producing the best quality product it can, which the VP believes the latest iPhone 5 to be.
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