Apple COO hints at cheaper iPhone, better prepaid plans

In a note to investors on Monday, Bernstein Research analyst Toni Sacconaghi said that Apple is looking to expand its smartphone market share by addressing the cost of its handsets. Apple doesn’t want its products to be “just for the rich,” Apple COO Tim Cook reportedly told Sacconaghi in a meeting, a possible indication that the company is looking to offer a less expensive iPhone option or even work with carriers to offer better rates. Cook is also said to have told the analyst that Apple will be doing “clever things” in the prepaid market. Cook noted that Apple will continue to focus on the tablet market as well, where it has seen huge success. Sacconaghi believes tablets could soon end up being a $60 billion to $100 billion business for Apple, whose iPad currently owns the majority of the tablet market.

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