When Apple revealed its new iPhone line-up earlier this week, commentators were quick to point out the 2018 flagships carry the most expensive price tags of any iPhone to date.

Buying an iPhone XS Max with the top level 512GB of storage space will set you back £1,449.

Now boss Tim Cook has revealed some of the thinking behind Apple’s pricing policy in a new interview.

Speaking to the Nikkei Asian Review, Cook suggested that Apple products are geared towards a segment of the market that are willing to pay more for their gadgets.

SIPA USA via PA Images Tim Cook opens the Apple's annual product launch, Wednesday, Sept. 12, 2018, at company headquarters in Cupertino, Calif. (Photo by Karl Mondon/Bay Area News Group/TNS/Sipa USA)
Tim Cook opens the Apple’s annual product launch, Wednesday, Sept. 12, 2018, at company headquarters in Cupertino, Calif. (Photo by Karl Mondon/Bay Area News Group/TNS/Sipa USA)

‘We always thought … that if you provide a lot of innovation and a lot of value, there is a segment of people who are willing to pay for it,’ Cook said.

‘For us, it’s a large enough group of people that we can make a reasonable business out of it.’

As ever, there are plenty of people aren’t willing to hand over that much cash for a phone.

Cook further rationalises the point by saying that the iPhone plays a huge part in people’s lives and that Apple does offer older handsets at a reduced price for other customers.

‘A lot of things you were buying are now so convenient in one [gadget] and it has taken those things so much further than they could have ever ventured as a stand-alone device,’ he said.

‘The role of the iPhone has become much larger in people’s lives.’

‘We want to serve everyone. We understand that there is a wide range of what customers are looking for and a wide range of prices that people will pay.’

CUPERTINO, CA - SEPTEMBER 12: Apple chief design officer Jony Ive (L) and Apple CEO Tim Cook inspect the new iPhone XR during an Apple special event at the Steve Jobs Theatre on September 12, 2018 in Cupertino, California. Apple released three new versions of the iPhone and an update Apple Watch. (Photo by Justin Sullivan/Getty Images)
Apple chief design officer Jony Ive (L) and Apple CEO Tim Cook inspect the new iPhone XR during an Apple special event at the Steve Jobs Theatre on September 12, 2018 in Cupertino, California. Apple released three new versions of the iPhone and an update Apple Watch. (Photo by Justin Sullivan/Getty Images)

Perhaps in a response to the accusations of cost, Apple introduced the iPhone XR this year which trades in the dual-camera and OLED display for a lower price that could appeal to those who aren’t willing to part with the money for an XS.

Then again, there’s always the iPhone 7. Which, at the entry level price of £449 is now the cheapest model Apple offers.

If you are interested in buying a new iPhone this year, here’s how they stack up:

  • iPhone XS 64GB: £999
  • iPhone XS 256GB: £1,149
  • iPhone XS 512GB: £1,349
  • iPhone XS Max 64GB: £1,099
  • iPhone XS Max 256GB: £1,249
  • iPhone XS Max 512GB: £1,449