Apple Defends It's Ability to Sell Stuff at Whatever Price it Wants To

Despite the outcry of bloggers and tech nerds, Apple will shockingly continue to sell the iPad mini at whatever price it deems necessary to turn a profit and sell a whole bunch.

Philip Schiller, Senior VP of Worldwide Marketing at Apple, defended their pricing:

"The iPad is far and away the most successful product in its category. The most affordable product we've made so far was $399 and people were choosing that over those devices. And now you can get a device that's even more affordable at $329 in this great new form, and I think a lot of customers are going to be very excited about that."

Translation: Cheaper tablets from our competitors are cheap. We sold 100 million iPads when the least expensive model was $399. We think people will happily pay $70 less to continue buying iPads.