At Re/code's Code/Mobile conference, Apple product marketing executive Greg "Joz" Joswiak said releasing cheaper products that don't meet Apple's expectations just to capture market share is a "mistake."
Here's what he told Re/code's Walt Mossberg and Ina Fried:
Backstage, we were talking about some of the mistakes Apple made in the '90s, and some of it was trying to do things like making cheap products that were chasing market share instead of chasing a better experience. You make that mistake once in your life, you're not going to make it twice.
Joswiak went on to say that the company's goal is to make "the best products with the best experience," adding that Apple has the highest customer satisfaction rate. He continued:
We [believe] that if we make a better product and a better experience, that there will always be a healthy market for that. And a healthy market doesn't mean we have to be market-share leader.
The iPhone 5c appears to provide some evidence that backs up Joswiak's statement. When Apple unveiled the iPhone 5c alongside the iPhone 5s, it was the first time the company offered a lower-cost alternative to its flagship smartphone. It's essentially an iPhone 5 coated in brightly colored plastic, which brings the price down a bit.
Although Apple doesn't break out sales of its individual phone models, evidence suggests that Apple sells more of its higher-priced iPhones than cheaper models.
Apple's competition has seen quite a bit of success in this department, however. There's been a ton of interest in Chinese startup OnePlus' One Android phone because it's one of the cheapest phones you can buy off contract at just $350. And it's pretty nice for the price, too.
Check out the full video below.