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Apple chief hints at cheaper iPhone

We've previously heard that Apple is working on a cheaper iPhone and now some remarks by Apple's acting CEO Tim Cook all but confirm that plan.

Eric Savitz of Forbes' Tech Trade blog reports that a recently released research note by Bernstein Research analyst Toni Sacconaghi revealed information about a meeting with Apple COO Tim Cook, CFO Peter Oppenheimer and VP of Internet Services Eddy Cue, along with some details about Apple's product plans:

The analyst says Cook “appeared to reaffirm the notion that Apple is likely to develop lower priced offerings” to expand the market for the iPhone. Cook said the company is planning “clever things” to address the prepaid market, and that Apple did not want its products to be “just for the rich,” and that the company is “not ceding any market.”

It sounds reasonable enough to interpret these remarks as a sign that Apple is plotting to offer a cheaper iPhone and we certainly hope that it is — especially considering that our wallets will probably already take quite a hit shortly after Apple's iPad 2 upcoming announcement.

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Rosa Golijan writes about tech here and there. She's a bit obsessed with Twitter, but still loves to be liked on Facebook.