Let's not overlook the fact that Apple is offering consumers a genuine, lower priced alternative, albeit one that appeals to a subset of the market.
It's not a "genuine, lower priced alternative", it's about 15% cheaper as an unsubsidized phone. As a subsidized phone it's maybe around 9% cheaper.
So if it's between 9% and 15% cheaper (your figures), what word would you use to complete the sentence "genuine, _______ priced alternative"? Higher? Same?