Cook: The only thing Apple won't do is release a lousy product
Apple CEO Tim Cook took the stage Tuesday at the Goldman Sachs Technology and Internet conference. Though—unsurprisingly—he spilled no Apple secrets, Cook did manage to leave room wide open for Apple to introduce a lower-priced iPhone, and reiterated some common company tropes about its focus and goals.
The future of the iPhone
Cook didn’t address rumors about Apple prepping an inexpensive iPhone directly. What he did say was: “The only thing we’ll never do is make a crappy product. … That’s the only religion that we have. We must do something great, something bold, something ambitious.” Cook said that Apple has tried “to appeal to people that are more price sensitive with iPhone,” pointing to the lowered prices for the iPhone 4 and iPhone 4S (which are free and $99, respectively, with two-year contracts). “In the December quarter … we didn’t have enough supply of iPhone 4 after we cut the price.” That level of demand, Cook said, “surprised us… So we are making moves, or have made moves, to make things more affordable.”
He then pointed to Apple’s product and pricing history. “If you take something like an iPod, the first one was $399; today you can go out and buy an iPod shuffle for $49.” But, Cook said, “Instead of saying, ‘How can we cheapen this iPod?’, we said, ‘How can we do a great product’” and get a lower price point.
Cook also looked to the common cry for Apple to make a cheaper Mac. “For years, people said, ‘Why don’t you have a Mac that’s less than $500 or less than $1000? … Frankly, we worked on this, but we concluded we couldn’t do a great product, so we didn’t.” Instead, Cook said, “We invented iPad. So now all of a sudden have an incredible [computing] experience, and it starts at $329.”
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