Tim Cook Finally Addressed the Question of a Cheaper iPhone X

Is the era of $1,000 phones here to stay?

Apple CEO Tim Cook let us all know Thursday that a cheaper iPhone X isn’t going to happen any time soon, so get used to those $999 price tags.

In an interview with Rebecca Jarvis of ABC News, Cook was asked about the potential for the possibility of a low-cost version of Apple’s flagship product. The CEO’s response was, in so many words, nope.

“We put a lot of innovation in these phones, and so we think they’re a reasonable price,” Cook said during the interview. He believes that the phone is priced “at a level that is consistent with the value of the phone.

Plenty of people disagree. When Apple announced the prices of their newest iPhone 8 and iPhone X in a keynote on September 2017, people across the Twittersphere were shocked.

The iPhone 8 starts at $699 and can be as expensive as $849 depending on storage space. Apple’s most cutting edge phone, the iPhone X, retails at $999 and can be as expensive as $1,149 if you want maximum storage.

These are some pretty steep price bumps if you take into account that the iPhone 7 was available as at $549 when it first came out.

Other phones that are directly competing with the iPhone X are way below its price point as well. The LG V30 clocks in at around $600, but you can’t get the same 256GB of storage that you could with an iPhone.

Regardless of that, the 64GB iPhone X is still $300 more expensive than the V30. This price gap goes to show that it is possible to price a high quality smartphone lower than what Apple is doing, but they seem to be sticking to their guns.

The future of cheaper iPhones is looking pretty bleak.

Media via Bloomberg TV