Apple CEO Tim Cook Says the iPhone X Costs the Same Per Week as a Few “Nice” Coffees

[Maura]

When Apple CEO Tim Cook was questioned about the price of the iPhone X during this week’s Q4 earnings results call, he put forward a very interesting way of looking at how much the phone costs.

According to Cook, most people will be paying for their iPhone X monthly rather than paying the full price of $999+ upfront. With the lowest available monthly price for an iPhone X currently being just $33 on certain carriers in the US, Cook says, “so, if you think about that, that’s a few coffees a week - it’s less than a coffee a day at one of these nice coffee places.”

Cook also noted that many iPhone users are also now trading in their old iPhones and getting up to $350 off the price of the iPhone X, which represents the highest resale value in the smartphone market.

“In terms of the way we price, we price to the value that we’re providing,” explained Cook. “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. iPhone X has a lot of great new technologies in there that are leading the industry.

“It is a fabulous product. We can’t wait for people to start getting it in their hands.”

Image: Starbucks Coffee (@starbucks) • Instagram photos and videos

Source: Apple CEO Tim Cook Says Financing iPhone X Can Work Out to Cost of Just a Few Nice Coffees Per Week

 

[HunnieBunnie]

Personally, I do not purchase a "few nice coffees a week." I am still grappling with Walmart's recent decision to reverse its "price matching" policy. I have used the price matching policy for years, and now with its reversal, the cost of food and sundries will double and in some cases triple for me. I have spoken to a few other people who are in the same situation. Anyone who is lucky to be able to spend money on "a few nice coffees each week" must be doing a lot better than myself and a lot of other people I know. For instance, my neighbour who is 75 is struggling to keep up with his basic bills (rent, utilities, Medicare copayments, food, keeping his ancient vehicle operational). He used to work five days per week at an antique mall refinishing furniture and he worked at his own booth at the flea market every Saturday and Sunday---so seven days a week he worked and had done so for many years. The antique mall has not had enough work for him in months. He is lucky to get three days a week there now, and sales at the flea market have been slow. He took in a roommate over a year ago for these reasons, but he is still struggling.

I love my iPhone, and I love my Mac, and I love this community of wonderful people, but I think some people have no idea what is going on in life around them and what other people are facing. It sounds like Mr. Cook is one of them.