For a product that has been around a scant six years—an eternity in the field of consumer electronics—the iPhone has had a remarkable run. It has changed the way we think about computing, conquered the mobile market, and transformed Apple from a relative underdog in the PC industry into one of the planet’s most profitable and influential enterprises.
The iPhone has also enjoyed unparalleled growth, consistently reaping the lion’s share of profits in the smartphone market even if it never reached the top spot in terms of units sold. Like a middle-aged person fearing his best days are behind him, however, the iPhone’s growth has been slowing of late, prompting calls from all sides that Apple do something about it.
The myth of the cheaper iPhone
The latest “something” is, apparently, the need for a less expensive product in the iPhone product line—the reasoning being, as far as I can tell, that it will be more appealing to those customers with whom Apple does not perform well today because of its premium prices.