Apple has "clever things" planned in order to address the prepaid market for iPhones, says COO Tim Cook. The executive joined CFO Peter Oppenheimer and VP of Internet Services Eddy Cue in speaking with Toni Sacconaghi, an analyst with Bernstein Research. While the iPhone is in high demand, a new model can cost at least $600 off-contract. Apple doesn't want its products to be "just for the rich," according to Cook, and is "not ceding any market." He notes that the company has spent "huge energy" in China, said to be a "clasic prepaid market."
