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Late Thursday, a report from the Shanghai Evening News suggested Apple would not be producing a less expensive iPhone despite reports to the contrary. That story, and what happened after its publication, is shaping up to be one of the most bizarre technology stories in recent memory.

According to the report, Apple marketing chief Phil Schiller stated that his company would not be developing "cheap smartphones." Based on those comments, Reuters ran an article with the headline, "Apple exec dismisses iPhone as a market share grab — report."

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