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Many believe that the iPhone X’s $999 price tag is too high, but Tim Cook thinks the cost is appropriate: in fact, he thinks it’s a bargain, being that the phone includes the latest technologies but can be paid for over long periods of time thanks to subsidies and discounts.
“Well, it’s a value price actually for the technology that you’re getting. As it turns out, most people are paying for phones over long periods of time. And so, very few people will pay the full price of the phone initially. Also, most people actually trade in their current phone, and some carriers throw in subsidies and discounts. When you look at it, the iPhone in particular has become so essential in our daily lives, people want it do more and more and more. So we’ve built more and more technologies into it to be able to do that.”
“Well, it’s a value price actually for the technology that you’re getting. As it turns out, most people are paying for phones over long periods of time. And so, very few people will pay the full price of the phone initially. Also, most people actually trade in their current phone, and some carriers throw in subsidies and discounts. When you look at it, the iPhone in particular has become so essential in our daily lives, people want it do more and more and more. So we’ve built more and more technologies into it to be able to do that.”