Apple's Tim Cook explains why the new iPhone costs nearly £1,500

When Apple unveiled its huge new iPhone XS Max last week, jaws dropped around the world – not at the gadget itself, but the price.

The highest-end configuration of the flagship phone comes in at £1,449 – with even Apple’s ‘budget’ XR phone costing £749 and up.

So how can Apple justify that price, in a world where budget phones cost £200 and laptops just £400?

Apple CEO Tim Cook explained in an interview with NIkkei Asian Review this week, ‘We understand that there is a wide range of what customers are looking for and a wide range of prices that people will pay.’

Here’s a guide to the full hardware range Apple launched last week.

‘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.

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

‘A lot of things you were buying are now so convenient in one and it has taken those things so much further than they could have ever ventured as a standalone device.

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