Apple not launching a cheaper iphone: Cook

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Apple Chief Executive Tim Cook, on his second visit to China this year, said he expects the country to surpass the United States as the technology giant’s largest market, state media reported.
Cook said Apple would launch new products in China, but declined to comment on reports the company is planning a cheaper iPhone for emerging markets like China.
China is currently apple’s second largest market and will soon become the companies first said Cook.
Apple claimed it sold over two million iPhone 5 handsets in China within three days of its launch on December 14 last year.
Products of the California-based company, including the iPhone and iPad, are wildly popular in China where they are coveted by wealthy consumers.