“Foreigners never conquer China. At least not in its entirety,” Panos Mourdoukoutas writes for Forbes. “But foreign products and services from Nike, Coca-Cola, McDonald’s, Yum Brands, and Apple might.”
“Apple’s products, in particular, hold big promise in China, as Chinese consumers see products like the iPad and the iPhone as symbols of American capitalism — and a way of life some seek to emulate,” Mourdoukoutas writes. “That’s why analysts following Apple have been excited about the company’s announcement that it will release its latest iPad on Dec. 7, and iPhone 5 on Dec. 16 for the Chinese market.”
Mourdoukoutas writes, “However, while Apple has consumer hype on its side in conquering the Chinese market, it faces a major obstacle: Low consumer income. In spite of rapid economic growth, China’s per capita GDP barely exceeds the $5,000, a fraction of that of the US and Europe. An iPhone 4S retails for 4,500 RB ($700), close to 15 percent of the per capita GDP.”
Read more in the full article here.
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Grand opening of Apple Store in Shenzhen, China draws huge crowds (with video) – November 5, 2012