Time is money...simple as that.
Got to love people that say that... haha
Well, you might want to review again the definition of opportunity cost, time saved is money as long as that time could have been used to make extra money. Time saved unlocking your phone while your sitting on the toilet won't make you much really...
Don't get me wrong, I love the idea of the fingerprint sensor, as this is much more user friendly than the password and more secure than no password.
But, using the money saving argument... this is silly now...
I love back of the envelope problems like these, but you missed a lot of points:
- confusing "time is money" with opportunity cost
- Time to register fingerprints
- Time to unlock the phone when your fingers are moist for example, which is a known issue already
- Time to reboot your phone to use a password if there is a problem with the fingerprint recognition
- Time lost having to unlock your phone hundreds of times to show off the technology to friends and family
- Time to go to the genius bar to exchange your phone as early models will probably have a significant percentage of faulty products
- cost of the phone itself, vs buying a 5 or 5C
- ...
So let's just agree, that thing is going to be cool and bring a lot more security to people like me that would not use a password, as I hate to type on the small keyboard.
Again, the money saving aspect is silly, so silly that even Apple didn't use it in their marketing material..