“Apple Inc. isn’t acting worried about competition for the iPad,” Adam Satariano reports for Bloomberg.

“Even as rivals such as Amazon.com Inc., Samsung Electronics Co. and Google Inc. introduce tablets at lower prices, Apple Chief Executive Officer Tim Cook went in the opposite direction yesterday,” Satariano reports. “He unveiled a new iPad mini with a high-definition screen that starts at $399, $70 more expensive than last year’s model. Apple also introduced a lighter and thinner design for its larger tablet, renamed iPad Air, starting at the same price of $499.”

“The new iPads follow the debut of the iPhone 5c last month at a heftier price than analysts expected, underscoring how Apple is appealing to the higher end of the market where more profit is made. The Cupertino, California-based company is betting customers see its products as a unique mix of hardware, software and services that are more valuable than lower-cost alternatives,” Satariano reports. “‘You can see from the pricing decision that Apple doesn’t really fear much competition,’ said Benedict Evans, an analyst at Enders Analysis, who attended Apple’s event in downtown San Francisco yesterday.”

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MacDailyNews Take: Apple products are the gold standard. You get what your pay for. Apple’s prices separate the wheat from the chaff.

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Newsflash: Apple sells premium products at premium prices to premium customers – October 23, 2012