Tim Cook may regret dismissing low-cost smartphones as ‘junk’

The most striking takeaway from Thursday’s big Bloomberg Businessweek interview with Apple CEO Tim Cook was that he views smartphones that are priced in the $300 to $450 range as “junk” that Apple wants nothing to do with. While it’s certainly true that Apple has made its money by selling high-end products such as MacBooks, iPhones and iPads to well-off consumers in developed countries, Cook should realize that people in emerging markets who are buying cheap smartphones aren’t simply destitute peasants who will never be able to afford Apple products. Rather, they’re part of a rising class of consumers in economies that are growing very quickly — in other words, potential future Apple customers. And this is why Cook’s view



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