Does Apple’s cheaper iPhone hurt its brand?

The company unveiled a plastic-encased version of its popular phone at its Tuesday event. That means more people can afford it, but might also tarnish its reputation for high-end gadgets.

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Among the announcements at Apple’s big product unveiling Tuesday was the long-awaited confirmation that it will offer a version of its popular iPhone that comes housed in plastic rather than metal and is considerably cheaper than its high-end iPhones 5 and 5S. The budget phone is called the iPhone 5C, and its unveiling prompted elated responses from people pleased with its affordability (the cheapest one is $99 with a two-year service contract):

Oye, iPhone 5C! I can finally afford an iPhone!

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