Tim Cook Hints at Cheaper iPhone: We Don't Want To Be For 'Just The Rich'

Apple COO Tim Cook hinted that the company may soon release a cheaper iPhone in an interview with Bernstein analyst Toni Sacconaghi.

Business Insider reports that Cook says Apple is doing "clever things" to attack the prepaid market, because he wants Apple to be "for everyone," not "just for the rich." Cook also recognizes "price is big factor in the prepaid market," but Apple is not "ceding any market."

Cook also said that Apple has been driving into China which is "a classic prepaid market" and noted that Apple would not let carriers dictate terms.


Sacconaghi says this reinforces "the notion that Apple might be willing to act to disintermediate carriers with a soft-SIM."

Recently, reports suggested that Apple was working on a smaller, cheaper iPhone. The New York Times then refuted those reports saying that a smaller phone would not be released anytime soon; however, they did believe Apple could release a less expensive device.

Read More