Apple opts for profit over market share with not-so-cheap iPhone

by Blogburger on September 11, 2013

Phil Schiller, senior vice president of worldwide marketing for Apple Inc, talks about the pricing of their new products at Apple Inc's media event in Cupertino(Reuters) – The higher-than-expected price of Apple Inc's new cheaper iPhone eased worries about gross margins, while arousing concerns the company was not being aggressive enough in its fight against Google Inc's market-dominating Android operating system. Apple's shares were down about 3 percent at $ 480.50 before the market opened on Wednesday, a day after it unveiled the 5S, a high-end iPhone with a fingerprint scanner as well as a cheaper 5C model targeted at emerging markets. "… …

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