The real low-cost new Apple product

It's the CentiPad! "I believe in You!".

The video is just as ridiculous as the argument for a low-cost iPhone for the sake of market share.  Apple will only offer a lower priced product only if that product has a true purpose and sense of premium.

Developed markets already have a free iPhone alternative (the iPhone 4).  A lower priced product does not make any sense in developed markets. (And given the nice market share gains in the US, a lower tiered iPhone makes anyone making the argument sound very silly.) Within specific emerging markets (ie India and China), a lower priced premium product tailored for specific markets makes sense.  Making a product for specific regions of the world is not in Apple's supply chain nature. (Although there has been increased chatter in a shift in manufacturing strategy. Could be a faster product release cycle or new products. Time will tell.)