When Apple (NASDAQ:AAPL) released the next generation of iPhones - the iPhone 5S and the iPhone 5C - while many features, functions, and bits of flair were well received, the 5C missed one critical mark. Rumors of a 'cheap' iPhone have been swirling through the blogosphere for months, and while there were two very divided camps on the subject, even those opposed to the device could see some merit. A lower-priced device was believed to be the key to letting Apple try to recapture market share from Google (NASDAQ:GOOG), which has reached 79.3% globally.
In the video below, I discuss the pricing of the new device and the ramifications it has for Apple looking toward the rest of the year.
Disclosure: I have no positions in any stocks mentioned, and no plans to initiate any positions within the next 72 hours. I wrote this article myself, and it expresses my own opinions. I am not receiving compensation for it (other than from Seeking Alpha). I have no business relationship with any company whose stock is mentioned in this article.