Spotlight: Cheap iPhone? I don't think so, says Cook

Apple will sell older iPhone models at a discount

Apple (NASDAQ: AAPL) CEO Tim Cook dismissed the idea that Apple would come out with a cheaper iPhone to compete with the likes of Samsung. Apple has no plans to offer a cheaper version of the iPhone to appeal to low-end consumers, Cook said during the Goldman Sachs Technology and Internet Conference held on Wednesday. "That's just not who we are," he said. At the same time, Apple is willing to cut the price on some of its older iPhone models, he added. For more, listen to the audio recording on Apple's site.