Apple CEO Tim Cook suggests buying an iPhone X is equivalent to buying high quality coffee
I am pretty sure Apple CEO Tim Cook is a coffee drinker after he suggested that buying an iPhone X is equivalent to buying high quality coffee.
“I think it’s important to remember that a large number of people pay for the phone by month. And so if you were to go out on just the U.S., since that tends to be more of the focus of this call, you look at the U.S. carriers, I think you would find you could buy an iPhone X for $33 a month,” said Cook.
“And so if you think about that, that’s a few coffees a week. It’s let’s say less than a coffee a day at one of these nice coffee places.”
The tech executive says the price is reflective of the quality of the product.
“In terms of the way we price, we price to sort of the value that we’re providing. We’re not trying to charge the highest price we could get or anything like that. We’re just trying to price it for what we’re delivering,” Cook said.
“And iPhone X has a lot of great new technologies in there that are leading the industry, and it is a fabulous product and we can’t wait for people to start getting it in their hands.”
Cook also mentioned that the cost to consumer can be knocked down if they trade in an old iPhone.
“The other thing to keep in mind is that many people are now trading in their current iPhone on the next iPhone. And the residual value for iPhone tends to be the highest in the industry and many people pick up $300, $350 or so for their iPhone and so that even reduces the monthly payment less,” Cook said. “And then obviously, some carriers also have promotional things going on. And so I do think it’s important to try to place it in that context.”
Oh wait, if the iPhone X is priced at RM5k and you will need to do two years repayment for the iPhone X. Oh yes it is about RM6.80 a day and it is equal to a 16oz McCafe Latte a day for two years.
Tell us what kind of spending will you try to reduce in order to get the iPhone X?