Apple: iPhone is “for everyone”… not “just for the rich”

Apple’s COO Tim Cook hinted in an interview today with Bernstein analyst Toni Sacconaghi that they could be producing a cheaper priced iPhone by stating that the iPhone should not be “just for the rich”, but “for everyone”.

The iPhone 4 (and even previous models) do cost a pretty penny and if Apple wants to continue to grab more market share they’ll have to come up with a strategy to attract the lower priced individuals who want their experience. Google’s Android is a perfect example of how they are roping in customers across various price points. Many of their devices could be had for around the $200-$300 mark.

Here’s the full quote that Sacconaghi sent to his clients this morning:
“While Tim stopped short of explicitly stating that Apple would pursue a lower price iPhone, he did state that Apple was working hard to “figure out” the prepaid market and that Apple didn’t want its products to be “just for the rich,” but “for everyone”; he also stated that Apple “understood price is big factor in the prepaid market” and that the company was “not ceding any market.” Cook noted that Apple executives – including himself – had spent “huge energy” in China, noting that it is “a classic prepaid market.” He further noted that the handset distribution model was poorly constructed and that Apple would look to “innovate” and do “clever” things in addressing that market.”

It would be cool if Apple came out with another phone other than the iPhone.

Via: WSJ