Investors wanted to know Monday how the iPhone 5C helps Apple reach new, budget-conscious markets, but according to CEO Tim Cook, it probably won't.
In response to questions during the company's fiscal fourth-quarter earnings call about the iPhone 5C's price and the colorful phone's sales in "cost-sensitive countries," Cook said the the iPhone 5C was never meant to be a budget phone.
"That was never our intent, honestly. Our entry iPhone is the iPhone 4S," he said, deflecting the questions about iPhone 5C sales. The iPhone 5C is meant to be a … Read more