“On Dec. 14, Apple’s stock dropped about 4% on reports that Chinese consumers wouldn’t be lined up for the release of the iPhone 5,” Chris Neiger writes for The Motley Fool.
“Media reports over the weekend showed Apple stores minus the traditionally long lines of customers — yet the weekend saw the sale of 2 million iPhone 5s in China,” Neiger writes. “Let’s take a quick look at why some thought the iPhone 5 launch would fizzle in China, and what Apple’s prospects look like in the country. When the iPhone 4S launched in China back in January, demand was so high that many Apple stores sold out of the phone. One store in Beijing couldn’t open because too many people were waiting outside. To make matters worse, Apple suspended phone sales in stores because of scalpers, leaving customers with an online-only purchase option.”
Neiger writes, “Contrast this with media reports over last weekend, which showed barren Apple stores. Early stories speculated that iPhone 5s weren’t flying off the shelves. To be fair, those reports were partly correct. Chinese customers typically buy no-contract phones, and no-contract iPhone 5s weren’t selling like hotcakes. But these articles missed the real story: the number of iPhone 5s being sold with a carrier contract.”
Read more in the full article here.
MacDailyNews Take: Some of the analysts and media were wrong, not all.
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