High iPhone price spooks investors, Apple shares drop


  • TECH
  • Thursday, 12 Sep 2013

OFF TARGET: A photographer holds up a new iPhone 5S to take a photo in Beijing, Apple investors were unimpressed with the new iPhones, bringing the company shares down

The world's most valuable technology company missed an opportunity to introduce a low-end smartphone to drive sales in Asia, where Samsung Electronics and China's Huawei have a wide lead over Apple, analysts say.

The plastic iPhone 5c unveiled on Tuesday will sell for 4,488 yuan in China, Apple said. That is more than the average monthly urban income in China, and about double the cost of mid-tier devices from Samsung and other vendors. The cheapest phones in China, made by the likes of Xiaomi, go for about US$100 (RM300) apiece.

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