“Apple is credited with revolutionizing the cellphone market with the iPhone but competitors have succeeding by selling devices that cost less and boast features, such as larger screens, missing from Apple’s best-selling product,” The Associated Press reports.
“Analysts said they were disappointed in Apple’s failure to debut a lower-priced product. The 5C will start at $99 for a 16-gigabyte model with a two-year wireless contract. Without a contract, the 5C will start at $549, which is not as low as analysts thought Apple might go to make a bigger splash in the lower end of the market,” AP reports. “The 5C is Apple’s least-expensive iPhone ever and is an effort to boost sales in China and other areas where people don’t have as much money to spend on new gadgets as they do in the U.S. and Europe.”
“Credit Suisse analysts downgraded their rating on Apple to ‘Neutral’ from ‘Outperform,” AP reports. “They said that the pricing was a disappointment. They said that Apple’s strategy of focusing on the $400 and over smartphone segment is a poor one, as this niche is not likely to grow meaningfully in the long term… Shares fell $28.23, almost 6 percent, to $466.41 by Wednesday afternoon. Apple’s stock has fallen nearly 30 percent since peaking at $705.07 when the last iPhone came out.”
Read more in the full article here.
MacDailyNews Take: We heard the same bullshit from “analysts” after iPad mini pricing was unveiled. How’d that turn out?
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