Credit: Bloomberg Businessweek
In a revealing interview with Bloomberg Businessweek reporter Sam Grobart, Apple CEO Tim Cook discussed Apple’s smartphone strategy and more. He made it clear that Apple stock price woes do not bother him too much and he’s more interesting in fighting for customer at the higher end of the smartphone market.
Here are key quotes from the interview:
Tim Cook on Apple’s Stock Price:
I don’t feel euphoric on the up, and I don’t slit my wrists when it goes down. I have ridden the roller coaster too many times for that.
Tim Cook on Low-Cost Manufacturing:
It happens in every market I’ve seen. It happens in all consumer electronics, from cameras to PCs to tablets to phones to—in the old world—VCRs and DVDs. I can’t think of a single consumer electronics market it doesn’t happen in.
Tim Cook on Cheaper iPhone:
There’s always a large junk part of the market. We’re not in the junk business. 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. 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.
We never had an objective to sell a low-cost phone. 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.