GUESS WHY Intel targets low and medium segments of the Asian market.
Apple Trailing China’s Coolpad Shows Need for Cheap IPhone
Apple Inc. is being outsold in China, the world’s largest handset market, by a company less than 1 percent its size, highlighting how the lack of low-cost products limits the iPhone-maker in emerging nations.
China Wireless Technologies Ltd. is one of four domestic suppliers outselling Apple in China with smartphones tailored to the budget of the nation’s budding middle class. Its Coolpad 8060 retails for 619 yuan -- or just under $100 -- less than 20 percent the price of the cheapest iPhone.
China Wireless expects sales to rise 40 percent this year to 28 million phones, helped by low prices and new products such as fourth-generation handsets. Apple, whose smartphone has made it the world’s most profitable company, slipped to sixth place in China from fourth as it struggled to lure consumers earning an average of $577 a month.
“Apple, with its current stable of products, is unlikely to rank high as long as the general level of affluence in China is low,” said Magdalene Choong, a Phillip Securities analyst in Singapore who rates the Cupertino, California-based company’s shares neutral.