Apple COO adds fuel to the cheap iPhone rumor
In a meeting with Bernstein Research analyst Toni Sacconaghi last week, Apple's Chief Operating Officer Tim Cook dropped hints that the company is planning a cheaper iPhone. According to Forbes, the report has Cook saying that Apple does not want its products to be "just for the rich."
Sacconaghi also met with Chief Financial Officer Peter Oppenheimer and Vice President of Internet Services Eddy Cue.
Rumors of a cheaper iPhone have been circulating since the New York Times shut down reports of an iPhone Nano from Bloomberg and the Wall Street Journal. Apple would not be offering a smaller iPhone, the newspaper said, but one at a lower price point.
Cook's comments seem to add weight to those rumors. Apple's COO also told Sacconaghi that Apple is not going to be "ceding any market" and has some "clever things" planned for the prepaid market.
The report indicates that Apple's top executives are confident about the direction of their company and believe it is focused "on the right things."
A funny note from the Forbes report: Cook said that he expects everyone will soon be sporting smartphones and believes the iPhone is just below food and water on Maslow's hierarchy of needs.
| March 1, 2011; 11:01 AM ET
Categories: Apple, Gadgets, Mobile
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