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

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

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