iPhone X’s $999 tag is ‘value price,’ says Apple CEO Tim Cook

In this April 30, 2015 file photo, Apple CEO Tim Cook responds to a question during a news conference at IBM Watson headquarters, in New York. AP file photo

Apple’s upcoming iPhone X comes with state-of-the-art new technology ,and many expected it to come for a much heftier price. However, pundits were left staggered by its $999 price tag (over P50,000), which will mark the highest that the product will ever be sold for.

Apple CEO Tim Cook recently addressed such concerns during an appearance on the TV show “Good Morning America”.

“Well, it’s a value price, actually, for the technology you’re getting,” the 56-year-old executive said, when asked if the average person can afford the new phone.

Cook added the variety of ways that people avail their upgrades nowadays, including installment, trade-in and carrier-offered deals that would make the iPhone X more affordable.

“As it turns out, most people are now paying for phones over long periods of time,” he said, as relayed in a report by The Verge. “And so very few people will pay the price tag of the phone initially. Also, most people actually trade in their current phone, and so that reduces the price further, and some carriers even throw in subsidies and discounts.”

He also described Apple’s new innovation as “essential” to everyday life and how it will be a worthy investment.

“And so when we look at it, the phone — the iPhone in particular — has become [too] essential in our daily lives, people want it to do more and more and more, and so we built more and more technology in to be able to do that.” Khristian Ibarrola/JB

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