The quote is in reference to the iPad. Apparently it uses another metal, cobalt. Because of the popularity of the iPad, cobalt is also now popular and expensive.
You and I are trying to save money on everyday purchases. But scientists like Dr. Chirik are trying to save thousands by making iron act like platinum. Not platinum, the bling-bling word, but the metal that costs apparently $22,000 per pound. As opposed to iron that is only $0.50 per pound.
If only we could get those savings at the store!