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 may have just set one thing to rest during today's earnings call: The iPhone 4s is the company's entry level model, and the 5c -- once said to be tailored for emerging markets and targeting more price-sensitive consumers -- is officially Apple's mid-tier model.

Responding to a question about iPhone pricing strategy, Cook was adamant that claims that the 5c was ever intended as an entry-level model were strictly rumors, and that "was never our intent." The 4s, he said, is the entry-level model, and is a "fantastic product," with access to the entire iOS ecosystem.

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