Apple: The iPhone 5c is our 'mid-tier' model

Just in case Apple's pricing scheme didn't make things crystal clear, CEO Tim Cook set record straight during today's earnings call: The iPhone 4s is the company's entry level model. The 5c, which was rumored to be tailored for emerging markets and more price-sensitive consumers, is officially Apple's mid-tier model. In response to a question about iPhone pricing strategy, Cook was adamant that the 5c was never intended as an entry-level model. The 4s, he said, is the entry-level model, and is a "fantastic product," with access to the entire iOS ecosystem.