Former Apple CEO John Sculley is throwing his 2 cents into Apple's current position. Sculley says that the company needs to be able to adapt to a new reality of profiting from $100 smartphones
. Sculley says that Apple must squeeze as much as possible from its supply chain to bring costs down. At the same time, he said that current Apple CEO Tim Cook is the right man for the job at the right time because of his expertise in the supply chain.
Lured to Apple from Pepsi in 1983 by Steve Jobs, Sculley called Apple rival Samsung "an extraordinarily good competitor
," and added that "the differentiation between a Samsung Galaxy and an iPhone 5 is not as great as we used to see."
The former Apple CEO made his comments while speculation has reignited that Apple is working on a low priced, entry-level version of the Apple iPhone