Apple boss hints at cheap iPhone

Apple "not just for rich" says Tim Cook

Cook was speaking with analyst about Apple's plans for the future.

Apple boss Tim Cook, the man holding the reins while Steve Jobs takes sick leave, has given the biggest indication yet that the Cupertino company could be working on a cheap iPhone.

Speaking with analyst Toni Sacconaghi from Bernstein Research last week, Cook was happy to discuss Apple’s future plans. Cook said he didn’t want Apple to be seen as, “…just for the rich,” saying it, “…understood price is big factor in the prepaid market” and that it was, “…not ceding any market.”

Cook also said he and Apple were looking largely to China, where PAYG handsets dominate. It seems Apple is hungry for more global success, with this being the clearest indicator yet that a pared down iPhone could be on the cards.

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