Tim Cook says the new iPhones are so expensive because they replace most other gadgets you'd need

Apple CEO Tim Cook defended the highest-priced new iPhones, telling ABC's "Good Morning America" that "it's the most advanced iPhone we've ever done" and replaces every other gadget consumers might need. "The phone has replaced your digital camera. You don't have a separate one anymore. It's replaced your video camera. It's replaced your music player. It's replaced all of these different devices," Cook said. "And so arguably the product is really important. And we've found that people want to have the most innovative product available and with that, it's not cheap to do."

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