Tim Cook: high-end smartphone market hasn't peaked

Following up on Apple’s quarterly reports from earlier on today, its CEO, Tim Cook made some comments about the direction in which his company is heading and the way Apple views the smartphone market.

Apple has been highly criticized by investors for its apparent lack of penetration in lower-end markets due to the high price of the iPhone. Amid concerns of high-end markets being saturated with premium devices, many folks are wondering if Apple is looking to launch a cheaper alternative to its best-selling device.

However, Tim Cook explained that he does not agree with this view “that the higher end, if you will, of the smartphone market is at its peak. I don’t believe that but we will see and we will report our result as we go along."

He also mentioned that the iPhone 4 with its discounted price is attracting an impressive number of first-time smartphone buyers, but he refused to give any exact numbers.

Many people believe Apple is looking to launch a cheaper version of the iPhone aimed at developing markets. We’ve even seen some images of a possible prototype device. And Cook seemed to hint towards such an approach by saying: “There are always more weapons, and we have more than one tool in the toolbox.”

We’ll have to wait and see if Apple will actually launch such a device and if this will bring them success when it comes to low-end markets or if the company will stick to its premium model.

Source: PCPro Image via AllThingsD

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