Quantcast
Latest Stories

Tim Cook says Apple won’t go down ‘junk’ road



Tim Cook. AFP FILE PHOTO

Tim Cook. AFP FILE PHOTO

WASHINGTON — Apple has no intention of competing in the “junk” segment of the electronics market, chief executive Tim Cook says.

In an interview published Thursday as Apple prepared to launch sales of two new iPhones, Cook said he remains unfazed by Apple’s eroding share of the smartphone market.

“There’s always a large junk part of the market. We’re not in the junk business,” he said in the interview with Bloomberg Businessweek.

“There’s a segment of the market that really wants a product that does a lot for them, and I want to compete like crazy for those customers.”

The comments come with Apple facing criticism for maintaining a comparatively high price for its new iPhone 5C, which had been seen as a smartphone for emerging markets and budget-conscious consumers.

The iPhone 5C will sell for $549 in the United States, and higher in China and other markets, where carrier subsidies are rare.

“We never had an objective to sell a low-cost phone,” Cook told the magazine. “Our primary objective is to sell a great phone and provide a great experience, and we figured out a way to do it at a lower cost.”

He added that “”I’m not going to lose sleep over that other market, because it’s just not who we are. Fortunately, both of these markets are so big, and there’s so many people that care and want a great experience from their phone or their tablet, that Apple can have a really good business.”

Cook said he was not overly concerned about the decline in Apple’s stock price, which has fallen sharply since hitting a peak last year.

“I don’t feel euphoric on the up, and I don’t slit my wrists when it goes down,” he said. “I have ridden the roller coaster too many times for that.”


Follow us on Facebook Follow on Twitter Follow on Twitter




Recent Stories:

Anti-Obama protesters clash with police in Manila 4 mins elapsed Anti-Obama protesters clash with police in Manila 11 mins elapsed Filipina, 51, shot dead by 24-year-old American boyfriend 35 mins elapsed Napoles’ surgery successful—doctor 35 mins elapsed Santiago wants Senate to recall Napoles 49 mins elapsed Visa-free US trip? Do not believe it, says consulate 1 hour elapsed Sherpas leave Everest; some expeditions nix climbs 1 hour elapsed Bam Aquino becomes Master Splinter’s son after Wiki hack 1 hour elapsed
Complete stories on our Digital Edition newsstand for tablets, netbooks and mobile phones; 14-issue free trial. About to step out? Get breaking alerts on your mobile.phone. Text ON INQ BREAKING to 4467, for Globe, Smart and Sun subscribers in the Philippines.

Tags: Apple , IT , technology , telecom , Tim Cook

  • Wolverine

    Tim Cook, you’re an egotistical moron to say it’s junk market. There’s a big difference between the terms “junk” and “mass” market.

  • Ross

    after apple event, APL stocks got low… suprising!

  • riccisan

    “I don’t feel euphoric on the up, and I don’t slit my wrists when it goes down,” good one :) im not an apple fan. but maybe the 5s and 5c may pick up sales especially this holiday season,ive seen some reviews and it looks pretty good

  • pedoy

    If you look at the figures, Apple’s profit is really going down, same with Nokia. Samsung covered more space on the pie chart, and there’s a growing market for “cheap local brands” with decent specs (Dual-Core/Quad-Core units…) Is this the “junk” part of the market that Apple mentioned.

    Function First. My opinion, why should I buy a Php15,000-30,000 mobile phone/tablet if I get everything that I need on my 5-inch Php3,900 Android phablet?



Copyright © 2014,
.
To subscribe to the Philippine Daily Inquirer newspaper in the Philippines, call +63 2 896-6000 for Metro Manila and Metro Cebu or email your subscription request here.
Factual errors? Contact the Philippine Daily Inquirer's day desk. Believe this article violates journalistic ethics? Contact the Inquirer's Reader's Advocate. Or write The Readers' Advocate:
c/o Philippine Daily Inquirer Chino Roces Avenue corner Yague and Mascardo Streets, Makati City, Metro Manila, Philippines Or fax nos. +63 2 8974793 to 94
Advertisement Advertisement

News

  • Anti-Obama protesters clash with police in Manila
  • Anti-Obama protesters clash with police in Manila
  • Napoles’ surgery successful—doctor
  • Santiago wants Senate to recall Napoles
  • Sherpas leave Everest; some expeditions nix climbs
  • Sports

  • Pacers rally past Hawks 101-85 to even series
  • David Moyes out as Manchester United manager
  • Nadal to face fellow Spaniard at Barcelona Open
  • Defensive Chelsea holds Atletico in scoreless draw
  • Popovich wins NBA coach of the year
  • Lifestyle

  • Wanted: Beauty queen with a heart that beats for the environment
  • Kim Atienza: At home with art and design
  • Life lessons I want to teach my son
  • Sweet party for Andi Manzano
  • Safety in online buying and selling
  • Entertainment

  • Ex-Fox exec denies allegations in sex abuse suit
  • Kris Aquino backtracks, says Herbert Bautista and her are ‘best friends’
  • Summer preview: Chris Pratt enters a new ‘Galaxy’
  • Bon Jovi helps open low-income housing in US
  • Summer movie preview: Bay reboots ‘Transformers’
  • Business

  • McDonald’s 1Q profit slips as US sales decline
  • SEC approves SM’s P15B retail bond offer
  • $103M Vista Land bonds tendered for redemption
  • Oil slips to $102 as US crude supplies seen rising
  • SC stops Meralco power rate hike anew
  • Technology

  • Engineers create a world of difference
  • Bam Aquino becomes Master Splinter’s son after Wiki hack
  • Mark Caguioa lambasts Ginebra teammates on Twitter
  • Brazil passes trailblazing Internet privacy law
  • New York police Twitter campaign backfires badly
  • Opinion

  • One-dimensional diplomacy: A cost-benefit analysis of Manila’s security deal with Washington
  • No ordinary illness
  • Reforest mountains with fire trees and their kind
  • Day of the Earth
  • When will Chinese firm deliver new coaches?
  • Global Nation

  • Filipina, 51, shot dead by 24-year-old American boyfriend
  • China, rivals sign pact to ease maritime tensions
  • Visa-free US trip? Do not believe it, says consulate
  • Obama visit to Asia seen as counterweight to China
  • Violence mars militant protest at US Embassy
  • Advertisement
    Marketplace