Tim Cook: Apple Products Not “Just for the Rich”

Tim Cook, Apple COO, revealed to an analyst that Cupertino’s finest are working on a cheaper iPhone that could be used with pre-paid plans. No details were given, but it’s likely that Apple is developing a nerfed iPhone with low-power guts. The New York Times confirms that Apple is not working on a physically smaller “iPhone Nano”, but rather “changing internal components of the device to bring costs down“.

Cook also mentioned that carrier expansion is a priority, and while there are hundreds of non-American providers still waiting for the iPhone, this could be good news for Sprint and T-Mobile.

The analyst says Cook “appeared to reaffirm the notion that Apple is likely to develop lower priced offerings” to expand the market for the iPhone. Cook said the company is planning “clever things” to address the prepaid market, and that Apple did not want its products to be “just for the rich,” and that the company is “not ceding any market”.

[Forbes]

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