"People are now paying for phones over long periods of times, very few people will pay the price tag of the phone initially", said Cook.
He said today that Apple will do "everything we can" to encourage Congress to make the bipartisan Dream Act - legislation that would offer a path to citizenship for hundreds of thousands of young unauthorized immigrants brought to the U.S.as children if they graduated from high school or obtained a GED - permanent.
Apple CEO Tim Cook, shows new Apple Watch Series 3 product at the Steve Jobs Theater on the new Apple campus, September 12, 2017, in Cupertino, Calif.
COOK: Yeah. Apple has never been about selling the most of anything. When asked if people should be anxious about hackers or other threats, he said, "not with us, because we're about your privacy".
"This is unacceptable", Cook said in an interview at the Bloomberg Global Business Forum.
In conversation with the billionaire philanthropist and former New York City mayor Michael Bloomberg, Cook called the Trump administration's threat to DACA, the federal program to legalize USA residents who illegally immigrated as children, "the biggest issue of our time". Certainly, during the keynote last week, Apple execs highlighted how many formerly independent gadgets - like MP3 players and standalone cameras - the iPhone had absorbed and replaced over the years. A new facial-recognition feature called Face ID can verify the users' identities and their purchases via Apple Pay.
The iPhone X, which has a case made of stainless steel, is priced at $999. "We've encrypted it on your device; you make the decision about who has it".
"When you look at it, the iPhone, in particular, has become so essential in our daily lives, people want it to do more and more and more", he added.
"We want to protect your data because we know it's yours, not ours". Back in August, Samsung launched the Galaxy Note 8 with a $930 price tag.