Buying an iPhone is a major financial decision for most people that pine for Apple’s pricey products, but according to CEO Tim Cook, the iPhone could soon see a price cuts in certain markets.
During his heavily publicized tour of India, Tim Cook sat down for an interview with Vikram Chandra on NDTV to talk about Apple’s interest in the country. When asked about whether the iPhone is too expensive, especially considering some features don’t work in countries outside the U.S., Cook actually acknowledged the price is a bit steep.
“Our profitability in India is materially less, but still I recognize the prices are high,” said Cook. “We want to do things that lower that over time to the degree that we can, so we’re looking into a number of things.”
Cook explained that duties and taxes compound to make the imported iPhone price higher than in the U.S. It’s unlikely that Apple will make the iPhone cheaper in its home country, but the CEO’s remarks are encouraging for Apple fans in developing nations that want an iPhone yet can’t afford one.
Even though iPhones may get cheaper, Tim Cook insisted that Apple’s “quality bar” will never be lowered. Because the company wants to make great products, Cook says they simply won’t be able to compete at lower price bands.
“We’re about making the best. That means we’re not going to play in some of these other price points. We would never make a product that we’re not proud of,” claimed Cook. “I don’t want to be in those markets, I don’t have a desire to be in those.”
Basically, Tim has no desire to make great phones for poor people. Instead he would prefer that everyone in India be able to buy an iPhone at a U.S. price, but he’ll probably have to wait many years until that time arrives.
You can watch the full interview below. The discussion of cheaper iPhones comes in around the 14 minute mark: