In a note to investors obtained by Barrons this week, Raymond James chip analyst Christopher Caso said that "final production" on Apple's iPhone X has not yet started, and likely won't begin until mid-October.
Asked by ABC's Good Morning America presenter Robin Roberts whether the iPhone X's price tag was "out of reach for the average American", Cook replied that it was "a value price actually for the technology you're getting".
Apple shares fell 1.7% to 156.07 on Wednesday on a report of technical problems with its Apple Watch Series 3 smartwatches, which go on sale Friday. "We have seen the demand for iPhone which is why we have come up with the first of its kind offer where we are guaranteeing 70% value for your iPhone at the time of upgrade".
Apple announced the OLED-screen iPhone X at a media event on September 12, along with two new LCD-screen phones, the iPhone 8 and iPhone 8 Plus. While the 8 becomes available in stores on 22 September for upwards of $699, the iPhone X will not be available until November and will cost at least $999.
This means that while the iPhone X is expected to go into production soon, manufacturing won't hit its peak until nearly the end of this year.
The same Rs. 799 plan will be available to prepaid users with 28 days validity period.
An Exchange offer: The website is offering an extra Rs 10,000 off on exchange of iPhone device.
If you are an Apple fan and excited about the new iPhones, well, it looks like Reliance Digital will basically have you covered. Under this offer, a customer would be eligible for 70 percent of the original purchase price as buyback amount on return of the device after a year.
Cook argued that iPhone addicts want their handsets to do more and more, so the firm needs to adjust and pack more expensive technology in the devices.