Apple CEO Tim Cook on Tuesday dismissed reports the company is developing a less expensive iPhone, telling an investor conference that, "There are other companies that do that, that's not who we are. Our North Star is great products." Cook said Apple has been successful in selling older iPhone models for less, one of several ways the company has tried to reach price-sensitive consumers. Also, Bloomberg Businessweek followed up on a New York Times report Monday that Apple is developing an iOS-based wristwatch, saying the company has assigned 100 engineers to a wristwatch project that Bloomberg sources described as beyond the experimental phase.

Related Summaries