Question: When Apple introduced its first generation iPhone with its advanced technology and ability to be a handheld computer the price was almost three times that

When Apple introduced its first generation iPhone with its advanced technology and ability to be a handheld computer the price was almost three times that of phones on the market. Even with the high price Apple and cell phone carriers could not keep them in stock. What is the pricing strategy was Apple using, and why did the company choose this strategy?

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