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Reuters: Apple faces hard sell with premium iPhone in China

Published 09/11/2017, 07:57 AM
© Reuters.  Reuters: Apple faces hard sell with premium iPhone in China
  • Reuters reports that Apple (NASDAQ:AAPL) might face a hard sell in China when launching the premium iPhone model expected to cost $1K.
  • The phone costs about double the average monthly salary in China and Apple faces steep competition from more budget-friendly competitors including Xiaomi, Oppo, and Vivo.
  • Greater China was Apple’s third largest market for iPhone sales last quarter. The region represented 18% of overall iPhone sales in the quarter. Sales were down 10% on the year.
  • According to Counterpoint Research, Apple’s share of the China smartphone market dropped to 9% in the first six months of this year, down from 14% in the same period last year.
  • Apple will announce the new phones at a launch event tomorrow.
  • Apple shares are up 1.24% premarket.
  • Previously: Apple hit by iPhone X leak (Sept. 11)
  • Now read: Apple Is Likely To Beat Earnings

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