Get 40% Off
🚨 Volatile Markets? Find Hidden Gems for Serious Outperformance
Find Stocks Now

Apple's flagship Shanghai store buzzes as iPhone 15 goes on sale

Published 09/22/2023, 02:13 AM
Updated 09/22/2023, 08:41 AM
© Reuters. People look at the new iPhone 15 Pro as Apple's new iPhone 15 officially goes on sale across China at an Apple store in Shanghai, China September 22, 2023. REUTERS/Aly Song

By Nicoco Chan and Yelin Mo

SHANGHAI/BEIJING (Reuters) - Over a hundred customers queued inside Apple (NASDAQ:AAPL)'s flagship store in the Chinese financial hub of Shanghai on Friday, waiting to pick up their iPhone 15 orders on the first day of in-store availability.

How Apple's latest iPhone sells in China is under close scrutiny by fans and market watchers alike, after widening curbs on iPhone use by government staff and the release of a high-end rival from domestic manufacturer Huawei sparked concern about demand for the device in its third-largest market.

But the strength of pre-orders in the world's second-largest economy, which began last Friday, has eased worries, with delivery times pushed into November and the premium iPhone 15 Pro and Pro Max selling out in just one minute on Alibaba (NYSE:BABA)'s Tmall e-commerce site.

Local media reported the queue at the store on Shanghai's East Nanjing road shopping belt started forming at 5 a.m. (1000 GMT).

Among those at the store was social media influencer Zhang Ming, 25, who said she wanted to try out the iPhone 15 after being unsuccessful in pre-ordering online.

"I always like to look (at the new devices). When I buy Apple products I only look at the colour. If I like the colour I will buy it," she said.

The iPhone 15 includes a new titanium shell, a faster chip and improved videogame-playing abilities. Apple also surprised by not raising prices, reflecting the global smartphone slump.

But some customers at the store lamented the lack of significant upgrades from the previous model. Real estate worker Wang Puyu, 29, said he was only purchasing a new model because he had promised to give his iPhone 14 to his nephew.

3rd party Ad. Not an offer or recommendation by Investing.com. See disclosure here or remove ads .

"I normally upgrade every year. But this year, I am not very satisfied."

Latest comments

Risk Disclosure: Trading in financial instruments and/or cryptocurrencies involves high risks including the risk of losing some, or all, of your investment amount, and may not be suitable for all investors. Prices of cryptocurrencies are extremely volatile and may be affected by external factors such as financial, regulatory or political events. Trading on margin increases the financial risks.
Before deciding to trade in financial instrument or cryptocurrencies you should be fully informed of the risks and costs associated with trading the financial markets, carefully consider your investment objectives, level of experience, and risk appetite, and seek professional advice where needed.
Fusion Media would like to remind you that the data contained in this website is not necessarily real-time nor accurate. The data and prices on the website are not necessarily provided by any market or exchange, but may be provided by market makers, and so prices may not be accurate and may differ from the actual price at any given market, meaning prices are indicative and not appropriate for trading purposes. Fusion Media and any provider of the data contained in this website will not accept liability for any loss or damage as a result of your trading, or your reliance on the information contained within this website.
It is prohibited to use, store, reproduce, display, modify, transmit or distribute the data contained in this website without the explicit prior written permission of Fusion Media and/or the data provider. All intellectual property rights are reserved by the providers and/or the exchange providing the data contained in this website.
Fusion Media may be compensated by the advertisers that appear on the website, based on your interaction with the advertisements or advertisers.
© 2007-2024 - Fusion Media Limited. All Rights Reserved.