When asked about increasing rivalry from inexpensive smart phones, the Apple CEO said, “There’s always a large junk part of the market,” going on to say, “we’re not in the junk business.”
Cook’s words come a day ahead of the launch of the iPhone 5C, a brightly coloured smart phone that many analysts expected would be a bargain.
That didn’t turn out to be the case though — Apple’s plastic-fantastic new mobile starts at a whopping £469. Cook’s bold statement on price reaffirms Apple’s position as a company that sells pricey but finely machined goods.
“I’m not going to lose sleep over that other market,” Cook is quoted as saying, “because it’s just not who we are.”
via CNET UK.