France Telecom CEO Stephane Richard says that budget smartphone buyers are threatening sales of Apple’s pricey iPhone. Consumers are becoming more frugal due to the state of the economy, particularly in Europe, Richard told Bloomberg Businessweek, and so they’re turning to cheaper options when it’s time to get a new cellphone.
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One of the world’s most outspoken telecom CEOs recently talked about how he has seen Apple change under the guidance of Tim Cook. Stephane Richard runs Orange, a leading French carrier and longtime Apple partner. During Mobile World Congress in Barcelona, Richard spoke to reporters about how he has seen Apple become “more flexible” and “less arrogant than they used to be.”